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 – www.instaforex.com
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