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EUR/NZD analysis for July 01, 2016


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Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5466 in a high volume. According to the 30M time frame, I found response from sellers at the price of 1.5536 (yesterday's point of control); sellers are in control over the market. Watch for selling opportunities on pullbacks. The next downward take profit level is set at the price of 1.5450.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5670

R2: 1.5720

R3: 1.5805

Support levels:

S1: 1.5500

S2: 1.5445

S3: 1.5360

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