Recently, EUR/NZD has been moving downwards. The price tested the level of 1.6248 in a high volume. According to the daily time frame, I found strong supply in the background in a high volume. Watch for selling opportunities on the pullbacks. Downward targets are set at the price of 1.6215 and 1.6100. According to the 30M time frame, I found strong downward trend and few up-thrust bars (sign of weakness continuation),
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6470
R2: 1.6510
R3: 1.6570
Support levels:
S1: 1.6350
S2: 1.6315
S3: 1.6255
Trading recommendation for today: Watch for selling opportunities on the pullbacks.
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