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    EUR/NZD analysis for March 21, 2016 2016-03-21

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    Overview:

    Recently, EUR/NZD has been moving sideways around the price of 1.6600. At the H4 time frame, I found defined trading range between the price of 1.6475 (support) and the price of 1.6865 (resistance). Support level at the price of 1.6475 is successfully held. So, we may expect re-test of resistance. Anyway, watch for a potential breakout of trading range to confirm further movement.

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.6610

    R2: 1.6645

    R3: 1.6700

    Support levels:

    S1: 1.6840

    S2: 1.6435

    S3: 1.6355

    Trading recommendation for today: Sideways market, watch for a potential breakout of trading to confirm further direction.


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