Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6651 in a high volume. According to the 30M time frame, I found an upward trend and successful testing of supply in a low volume and narrow spread of the bar, which is a good sign of a further upward movement. Be careful when selling EUR/NZD at this stage and watch for buying opportunities. I have placed theFibonacci expansion to find potential upward targets. I found Fibonacci expansion 61.8% at the price of 1.6685 (the first target) and Fibonacci expansion 100% at the price of 1.6770 (the second upward target).
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6618
R2: 1.6635
R3: 1.6665
Support levels:
S1: 1.6560
S2: 1.6545
S3: 1.6515
Trading recommendation for today: Watch for buying opportunities on the dips.
The material has been provided by InstaForex Company – www.instaforex.com
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