FX.co ★ EUR/NZD analysis for November 26, 2015

Overview:

Recently, EUR/NZD has been moving downwards. As I had expected, the price tested the level of 1.6083. The short-term trend has changed from neutral to downward. The major 22-day trading range support at the level of 1.6150 was finally broken. In the H4 time frame, our strong support area between the price of 1.6150-1.6240 now became strong resistance. Watch for potential selling opportunities. The support level is at the price of 1.6085.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6230

R2: 1.6265

R3: 1.6325

Support levels:

S1: 1.6110

S2: 1.6075

S3: 1.6015

Trading recommendations : Intraday selling opportunities are preferable. The first support level is at the price of 1.6085. According to the daily time frame, the profit level is at the price of 1.5720.