Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.6396 in a high volume. I found a successful breakout of the pivotal point at the price of 1.6270, which is a sign that we may see a further upward price. The next pivotal point and upward take profit level are set at the price of 1.6475. Watch for buying opportunties on the dips. According to the 15M time frame, I found broken bullish symmetrical triangle (bullish continuation pattern).
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6370
R2: 1.6415
R3: 1.6490
Support levels:
S1: 1.6215
S2: 1.6170
S3: 1.6090
Trading recommendation for today: Watch for buying opportunities on the dips. The trend is upward.
The material has been provided by InstaForex Company - www.instaforex.com