Overview:
Since our last analysis the EUR/NZD pair has been trading upwards like we expected, price tested level of 1.7108 (previous up swing). I placed Fibonacci expansion level for future up and I got FE 61.8% at price 1.7500. Since we broke level 1.7106 (previous swing high), we may expect future up. Current situation on (4H) time frame is that we got large buying climax bar (ultra high volume bar) which may be potential reverse point. On the daily chart we can also see strong demand bar which is confirmation that we may see future up. Since we are in up trend and since we got increasing volume on previous up move buying above level 1.7106 looks attractive.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1.7103
R2: 1.7176
R3: 1.7293
Support levels:
S1: 1.6869
S2: 1.6796
S3: 1.6679
Trading recommendation: Be careful with selling and look for buying opportunities. I recommend 1.7500 for down target.