FX.co ★ EUR/NZD analysis for July 14, 2016

Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5432 in a high volume. According to the 1H time frame, I found a broken flat base. Strong upward momentum confirmed the breakout of the base, which is a sign that we may see a higher price. I have placed the Fibonacci expansion to find potential upward targets. I found Fibonacci expansion 61.8% at the price of 1.5455, Fibonacci expansion 100% at the price of 1.5540, and Fibonacci expansion 161.8% at the price of 1.5675.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5280

R2: 1.5305

R3: 1.5360

Support levels:

S1: 1.5160

S2: 1.5125

S3: 1.45070

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