Overview:
Recently, EUR/NZD has been moving sideways around the price of 1.6600. At the H4 time frame, I found defined trading range between the price of 1.6475 (support) and the price of 1.6865 (resistance). Support level at the price of 1.6475 is successfully held. So, we may expect re-test of resistance. Anyway, watch for a potential breakout of trading range to confirm further movement.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6610
R2: 1.6645
R3: 1.6700
Support levels:
S1: 1.6840
S2: 1.6435
S3: 1.6355
Trading recommendation for today: Sideways market, watch for a potential breakout of trading to confirm further direction.
The material has been provided by InstaForex Company - www.instaforex.com