FX.co ★ EUR/NZD analysis for February 09, 2017

Recently, the EUR/NZD pair has been upwards. The price tested the level of 1.4854. According to the 30M time frame, I found strong upward movement in the background due to Wheeler speech today. Anyway, my advice is to wait potential end of the bearish correction before buying. The price should at least test Fibonacci retracement 38.2% at the price of 1.4740.

Fibonacci pivot points:

Resistance levels:

R1: 1.4750

R2: 1.4790

R3: 1.4860

Support levels:

S1: 1.4620

S2: 1.4570

S3: 1.4500

Trading recommendations for today: watch for potential end of bearish correction before buying.