FX.co ★ EUR/NZD analysis for March 21, 2016

Overview:

Recently, EUR/NZD has been moving sideways around the price of 1.6600. At the H4 time frame, I found defined trading range between the price of 1.6475 (support) and the price of 1.6865 (resistance). Support level at the price of 1.6475 is successfully held. So, we may expect re-test of resistance. Anyway, watch for a potential breakout of trading range to confirm further movement.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6610

R2: 1.6645

R3: 1.6700

Support levels:

S1: 1.6840

S2: 1.6435

S3: 1.6355

Trading recommendation for today: Sideways market, watch for a potential breakout of trading to confirm further direction.