FX.co ★ EUR/NZD : analysis for March 19, 2015

Overview:

In our last analysis EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.4352 in a high volume. The mid-term trends are bearish and my advice is to watch for potential selling opportunities after corrections. I found big weakness around the price of 1.4630 (buying climax). My advice is to be careful when buying and to watch for potential selling opportunities after a retracement. Major support is at the price of 1.4360.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4595

R2: 1.4654

R3: 1.4748

Support levels:

S1: 1.4406

S2: 1.4347

S3: 1.4252

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