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

Recently, EUR/NZD has been moving sideways at the price of 1.5135. Using the market profile on the 30M time frame, I found strong point of control from the background at the price of 1.5105. The pair is trading below 21SMA, which is a sign of weakness. Watch for potential breakout of 1.5105 to confirm lower price. A downward target is set at the price of 1.4945.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5260

R2: 1.5300

R3: 1.5370

Support levels:

S1: 1.5120

S2: 1.5075

S3: 1.5000

Trading recommendations for today: Watch for potential selling opportunities.