FX.co ★ EUR/NZD analysis forJanuary 27, 2017

Recently, EUR/NZD has been trading sideways at the price of 1.4745. According to the 15M time frame, I found bearish divergence in progress, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. A downward target is set at the price of 1.4695. The short-term trend is still downward. Price is also testing Fibonacci retracement 38.2% at the level of 1.4760.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4800

R2: 1.4840

R3: 1.4895

Support levels:

S1: 1.4700

S2: 1.4670

S3: 1.4615

Trading recommendations for today: watch for potential selling opportunities.