Recently, EUR/NZD has been moving sideways at the 1.6650 level. Previous analysis is still valid. According to the 30M time frame chart, there is a trading range between the 1.6640 (support) and 1.6800 (resistance) levels.The level of 1.6640 is on the test. Watch for a breakout of the trading range in a high volume to define further direction. The upside target is set at 1.6920. In case the price breaks support, the downside target should be placed at 1.6540.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6725
R2: 1.6745
R3: 1.6780
Support levels:
S1: 1.6650
S2: 1.6630
S3: 1.6600
Trading recommendation for today: watch for breakout of the trading range to confirm further direction.