Overview:
In our last analysis, EUR/NZD was trading upwards. As we expected, the price has tested the level of 1.4537 in an average volume. The price has broken our resistance level at the 1.4500. According to the price action on the H4 time frame, we can observe demand in an average volume. The short-term trend is bullish. My advice is to watch for potential buying opportunities on the dips. The first strong resistance level is around the price of 1.4580-1.4640.
Daily Fibonacci pivot levels:
Resistance levels:
R1: 1.4504
R2: 1.4543
R3: 1.4606
Support levels:
S1: 1.4378
S2: 1.4339
S3: 1.4276
Trading recommendations: Be careful when selling and watch for potential buying opportunities on the dips.
The material has been provided by InstaForex Company - www.instaforex.com
