Overview:
Oour last analysis, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.6023 in an high volume. Our Fibonacci expansion 100% at the price of 1.6000 is on the test. If the price breaks the level of 1.6010 in a higher volume, we may see potential testing the level of 1.6200 (swing high like resistance). Anyway, be careful when buying at this stage since the price is near the resistance level. My advice is to wait for retracement and then to build buying positions.
Daily Fibonacci pivot levels :
Resistance levels:
R1: 1.5922
R2: 1.5956
R3: 1.6012
Support levels:
S1: 1.5810
S2: 1.5776
S3: 1.5720
Trading recommendations: Be careful when selling the EUR/NZD pair since we may see further upward movement.