Recently, EUR/NZD has been moving upwards.The price tested the level of 1.5515 in a high volume. According to the daily time frame, I found strong pinbar and bullish divergence on the RSI, which is a sign that selling looks risky. According to the 4H time frame, I found bullish outside bar formation in a high volume, which is another clear sign of strength. Watch for buying opportunities. Key resistance and my take profit level is set at the price of 1.5620.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5495
R2: 1.5535
R3: 1.5610
Support levels:
S1: 1.5355
S2: 1.5310
S3: 1.5245
Trading recommendations for today: Watch for buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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