Overview:Recently, EUR/NZD has been trading sideways around 1.4180. We are facing low volatility. Our Fibonacci expansion 100% at the level of 1.4035 was held successfully and the price went into a corrective phase. I have placed Fibonacci retracement to find potential resistance levels and have got Fibonacci retracement 38.2% at 1.4230 (currently on the test) and Fibonacci retracement 61.8% at 1.4350. The short-term trend is neutral. We are waiting for a clear direction, so we can take better opportunity. If the price breaks the level of 1.4235 in a high volume, we may see it testing the level of 1.4350. Anyway, if we see larger supply on the market, we may see possible re-testing of 1.4030.
Trading recommendations: If the price breaks the level of 1.4235 in a high volume, we may see potential testing of the level of 1.4350. Buying opportunities are preferable above the price 1.4235.
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Uitgevoerd door, Analytische expert
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