Recently, EUR/NZD has been moving downwards. As I had expected, the price tested the level of 1.6261 in a very high volume. My second take profit has been reached. In the daily chart, the price finally broke (14 days) a trading range between the 1.6475 level (support) and the 1.6865 level (resistance). According to the 15M time frame, I found strong selling pressure and no demand bars near the level of 1.6360. Watch for intraday selling opportunities on rallies. The intraday take profit level is set at the price of 1.6260-1.6215.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6610
R2: 1.6670
R3: 1.6770
Support levels:
S1: 1.6415
S2: 1.6350
S3: 1.6255
Trading recommendation for today: There is strong downward pressure according to intraday time frames. Watch for selling opportunities on the rallies.
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