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EUR/NZD analysis for October 24, 2016

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Recently, EUR/NZD has been moving sideways at the price of 1.5200. On 30M time frame, I found strong resistance cluster at the price of 1.5210-1.5215. Be careful when buying EUR/NZD at this stage and watch for potential selling opportunities. The first downward target is set at the price of 1.5160.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5210

R2: 1.5222

R3: 1.5240

Support levels:

S1: 1.5170

S2: 1.5160

S3: 1.5140

Trading recommendations for today: Watch for potential selling opportunties.

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