Recently, EUR/NZD has been moving sideways at the price of 1.6370. According to the 1H time frame, I found flat base between the price of 1.6420 (resistance) and the price of 1.6290 (support). The short-term trend is still upward but anyway watch for a successful breakout of trading range to confirm further direction. I would like to see a breakout in a high volume and healthy price action to confirm the breakout. I also found, upward channel. I advice you to watch for a potential breakout of resistance (1.6420) to confirm further direction.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6405
R2: 1.6435
R3: 1.6480
Support levels:
S1: 1.6315
S2: 1.6280
S3: 1.6240
Trading recommendation for today: Watch for a potential breakout of resistance to confirm further upward movement. The short-term trend is bullish.
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