In our last analysis, EUR/NZD was trading downwards. The price has tested the level of 1.4307 in an average volume. The price found support around the level of 1.4330 (our Fibonacci expansion 61.8%). The short-term trend is still neutral. So, be careful when trading EUR/NZD. According to price action on 4H time frame, we can see a pin bar and rejection from our Fibonacci expansion 61.8%. My advice is to watch for potential buying opportunities. The first resistance level is around the price of 1.4440.
Daily Fibonacci pivot levels:
Trading recommendations: We are in neutral trend. So we need to a clear direction in the next period for better trading opportunities. Anyway, buying positions are preferable.
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Uitgevoerd door, Analytische expert
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