FX.co ★ EUR/NZD analysis for June 29, 2016

Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5567 in a high volume. According to the 30M time frame, I found a broken upward trendline, which is a sign of selling continuation. According to the daily time frame, I found that support became resistance at the level of 1.5840.The trend is downward. Watch for selling opportunities on the pullbacks. The first take profit level is set at the price of 1.5450.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5750

R2: 1.5790

R3: 1.5854

Support levels:

S1: 1.5635

S2: 1.5600

S3: 1.5545

Trading recommendations for today: Watch for selling opportunities on the pullbacks.