FX.co ★ EUR/NZD analysis for March 18, 2015

Overview:

In our last analysis EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.4398 in a high volume. The mid-term trends are bearish and my advice is to watch for potential selling opportunities after corrections. I found resitance around the price of 1.4560 (swing low like resistance). My advice is to be careful when buying and to watch for potential selling opportunities after a retracement.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4520

R2: 1.4570

R3: 1.4653

Support levels:

S1: 1.4354

S2: 1.4304

S3: 1.4221

Trading recommendations: Be careful when buying at this stage and watch for potential selling opportunities after a retracement (after bullish correction).