FX.co ★ EUR/NZD analysis for February 14, 2017

Recently, the EUR/NZD pair has been trading sideways at the price of 1.4785. According to the 15M time frame, I found downward channel, which is sign that buying looks risky. My advice is to watch for potential breakout of upward trendline to confirm lower price. Downward targets are set at the price of 1.4730 and 1.4680. Anyway, if the price breaks downward channel upside, EUR/NZD may test the level of 1.4860.

Resistance levels:

R1: 1.4815

R2: 1.4835

R3: 1.4875

Support levels:

S1: 1.4735

S2: 1.4710

S3: 1.4670

Trading recommendations for today: watch for buying potential selling if the price breaks upward trendline.