Overview:
Since our last analysis, EUR/NZD has been trading upwards. The price tested the level of 1.5826 in an ultra high volume (buying climax) according to the 4H timeframe, which is a sign that buying looks very risky. It is still unsafe for any buying, so watch for potential selling opportunities after retracement. If the price breaks the level of 1.5710 in a higher volume, we may see potential testing the level of 1.5595.
Fibonacci pivot levels :
Resistance levels:
R1: 1.5807
R2: 1.5829
R3: 1.5864
Support levels:
S1: 1.5737
S2: 1.5715
S3: 1.5680
Trading recommendations: Be careful when buying the EUR/NZD pair and watch for selling opportunities after retracement.
The material has been provided by InstaForex Company - www.instaforex.com
