FX.co ★ EUR/NZD analysis for September 25, 2014

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.