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    EUR/NZD analysis for June 10, 2016 2016-06-10

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    Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5839 in a high volume. Anyway, according to the daily time frame, I found a swing low from December 2015 at the price of 1.5835. The level of 1.5835 is on the test and selling looks very risky at this stage. I expect at least correction to the level of 1.6090. Watch for buying opportunities. Only if the price breaks critical support we may see downward continuiation.

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.6140

    R2: 1.6225

    R3: 1.6370

    Support levels:

    S1: 1.5850

    S2: 1.5760

    S3: 1.6620

    Trading recommendations for today: Strong support is on the test. So, watch for buying opportunities.


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