Overview:
Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.6831 in a high volume. In the daily time frame, we can observe a successful test of our key point in the control zone (1.6640-1.6515). In the H4 time frame, I found the upward trend line, which successful held for few times. Even if the price breaks the upward trend line, strong support is seen at the level of 1.6545. The price is well above all key MA`s (50SMA, 100SMA, 150SMA, and 200 SMA). The first upward take-profit zone is seen around the level of 1.7260 (previous swing high).
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6850
R2: 1.6915
R3: 1.7010
Support levels:
S1: 1.6650
S2: 1.6590
S3: 1.6495
Trading recommendations: Trading recommendations: the intraday trend is neutral, but the short-term trend is upward. Watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com