FX.co ★ EUR/NZD analysis for August 01, 2016

Recently, EUR/NZD has been moving sideways at the price of 1.5447. According to the 15M time frame, I found successful test of supply in a low volume at the price of 1.5450 and I found fake breakout of swing low. Be careful when selling and watch for buying opportunities. The price respects the 21SMA, which is a good sign of strength. The intraday trend is upward and the first upward target is set at the price of 1.5650. Point of control from Friday is set at the price of 1.5620.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5610

R2: 1.5655

R3: 1.5730

Support levels:

S1: 1.5460

S2: 1.5415

S3: 1.5340

Trading recommendations for today: Watch for buying opportunities on the dips.