Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6776. In the daily time frame, we can observe a demand bar. Strong support level is seen at the level of 1.6340 held successfully. The short-termtrend has changed from neutral to bullish and the mid-term trend is still bullish. Resistance level is at the price of 1.6805. Watch for potential breakout of our resistance level. The price has broken our smaller trading range with resistance at the price of 1.6610.
Fibonacci Pivot Points :
Trading recommendations: Be careful when selling EUR/NZD and watch for potential breakout of resistance to confirm direction. Strong resistance is around the level of 1.6805.
The material has been provided by InstaForex Company – www.instaforex.com