FX.co ★ EUR/NZD analysis for April 08, 2016

Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6824 in a high volume. EUR/NZD has broken the downward channel (bullsh flag). So, selling opportunities are not preferable anymore. I found retesting of a broken channel (1.6720), which is a sign that we may expect an upward price. The first take profit level is set at the price of 1.6823.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6825

R2: 1.6865

R3: 1.6940

Support levels:

S1: 1.6680

S2: 1.6640

S3: 1.6570

Trading recommendation for today: Watch for buying opportunities on dips