Recently, EUR/NZD has been moving sideways at the price of 1.5640. According to the 1H time frame, I found a tight tranding range (potential re-accumulation) between the price of 1.5600 (support) and the price of 1.5651 (resistance). Since I found strong accumulation in the background and the trend is upward, my advice is to watch for buying opportunities above the price of 1.5651. The upward target is set at the price of 1.5820.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5647
R2: 1.5680
R3: 1.5730
Support levels:
S1: 1.5550
S2: 1.5515
S3: 1.5465
Trading recommendations for today: Watch for buying opportunities above the price of 1.5651.
The material has been provided by InstaForex Company - www.instaforex.com