FX.co ★ EUR/NZD : analysis for March 30, 2015

Overview:

In our last analysis, EUR/NZD was trading downwards. The price has tested the level of 1.4382 in a high volume. The price found resistance around the level of 1.4440 (our Fibonacci retracement 61.8%). The short-term trend is neutral. So, be careful when trading EUR/NZD. First major support is seen around the level of 1.4320 (Fibonacci expansion 61.8%) and if the price breaks the level of 1.4440, we may see a potential test of the levels of 1.4490-1.4560.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4431

R2: 1.4472

R3: 1.4538

Support levels:

S1: 1.4300

S2: 1.4260

S3: 1.4192

Trading recommendations: We are in neutral trend. So we need to see a clear direction in the next period to search for better opportunities.