Recently, EUR/NZD has been moving downwards. The price tested the level of 1.6505 in a high volume. According to the 30M time frame, I found a potential double bottom formation. Be careful when selling and watch for potential buying opportunities. Take profit level is set at the price of 1.6585. if the price breaks the level of 1.6585, we may see potential testing of 1.6640.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6650
R2: 1.6670
R3: 1.6700
Support levels:
S1: 1.6585
S2: 1.6565
S3: 1.6530
Trading recommendation for today: Watch for buying opportunities on dips.
The material has been provided by InstaForex Company - www.instaforex.com