Recently, EUR/NZD has been moving sideways around the price of 1.6660. In the daily time frame, I found a supply bar, but with a weak close price, which is a sign of indecision. In the 4-hour time frame, our strong support level at 1.6515 (swing low, Fibonacci expansion 61.8%) held successfully. If the price breaks the level of 1.6515, we may expect potential testing of 1.6260 (Fibonacci expansion 100%) and 1.5830 (Fibonacci expansion 161.8%). Intraday resistance level is at the price of 1.6740 (volume balance zone).
Fibonacci Pivot Points:
Trading recommendations: Watch for a potential breakout of 1.6515 to confirm further downward continuation.