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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/NZD analysis for July 06, 2016

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Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.5596 in a high volume. The price reached our take profit level from yesterday at 1.5550. According to the 30M time frame, I found weakness at the price of 1.5595, which is a sign that buying at this stage looks risky. My advice is to watch for selling opportunities on pullbacks. An intraday take profit level is set at the price of 1.5465.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5535

R2: 1.5570

R3: 1.5630

Support levels:

S1: 1.5420

S2: 1.5385

S3: 1.5330

Trading recommendations for today: Watch for selling opportunities on pullbacks.

The material has been provided by InstaForex Company - www.instaforex.com