FX.co ★ EUR/NZD analysis for January 19, 2017

Recently, EUR/NZD has been moving sideways at the price of 1.4832. My previous analysis is still active. According to the 4H time frame, I found rejection from resistance at the price of 1.4900. EUR/NZD is in a short-term downward trend. My advice is to watch for selling opportunities. I have placed Fibonacci expansion and I found a downward target at the price of 1.4730.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4925

R2: 1.4945

R3: 1.4985

Support levels:

S1: 1.4850

S2: 1.4830

S3: 1.4795

Trading recommendations for today: Watch for potential selling opportunities.