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EUR/NZD : analysis for June 30, 2015

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Overview:

Recently, EUR/NZD is moving upwards. As we expected, the price tested the level of 1.6572 in a high volume. In the daily time frame, we can observe a demand bar, which is a sign that selling looks risky. The short-term trend is bullish. The closed the gap between the levels of 1.6300 and 1.6115. Bullish phase is in progress, so watch for a potential opportunities to buy on dips. Anyway, the price is testing the resistance level at 1.6572. If it breaks the level of 1.6572 in a high volume , we may see a test at the level of 1.6700.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6430

R2: 1.6520

R3: 1.6660

Support levels:

S1: 1.6140

S2: 1.6050

S3: 1.5910

Trading recommendations: The market is bullish. Watch for potential buying opportunities above the level of 1.6572.



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