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    EUR/USD Intraday Technical Levels for Jully 12, 2012

    EURNZDDaily05.png

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    EURNZDM1505.png

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    Overview:

    Recently, EUR/NZD has been moving sideways around the level of 1.6620. Low volatility is bserved on the market. In the daily time frame, we can observe a weak supply bar in a volume just below the average. The price rejected from our major resistance level (1.6805). According to the M15 time frame, we can observe few selling climax actions (potential intraday buyers.) The short-term trend has changed from bullish to neutral. Be careful when selling EUR/NZD at this stage. I found a strong trading range between the levels of 1.6590 and 1.6590.

    Fibonacci Pivot Points :

    Resistance levels:

    R1: 1.6695

    R2: 1.6730

    R3: 1.6770

    Support levels:

    S1: 1.6605

    S2: 1.6575

    S3: 1.6530

    Trading recommendations: Sideywas market. Wait for a breakout of the trading range to confirm the further direction.


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