FX.co ★ EUR/NZD analysis for July 12, 2016

Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5109 in a high volume. According to the 30M time frame, I found downward pressure on the market and a breakout of upward trend line in the background. Supply trend line is held successfully, which is a sign that buying looks risky. Watch for selling opportunities on the pullbacks. The first take profit level is set at the price of 1.5115.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5330

R2: 1.5375

R3: 1.5450

Support levels:

S1: 1.5170

S2: 1.5125

S3: 1.5050

Trading recommendations for today: Be careful when buying and watch for selling opportunities.