Recently, EUR/NZD has been trading downawrds. As I expected, the price tested the level of 1.4693. According to the 4H time frame, I found overbought stochastic, which is a sign that buying looks risky. The trend is downward. My advice is to watch for potential selling opportunities. Pay attention to the 1.4690 level. If the price breaks that level, EUR/NZD may test the level of 1.4580.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4745

R2: 1.4760

R3: 1.4780

Support levels:

S1: 1.4705

S2: 1.4690

S3: 1.4670

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company –

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