FX.co ★ EUR/NZD analysis for February 15, 2017

Recently, the EUR/NZD pair has been trading downwards. As I expected, the price tested the level of 1.4677. According to the 1H time frame, I found strong support at the price of 1.4675 (previous demand level). There is also successful test of lower diagonal of downward channel. My advice is to watch for potential buying opportunities. Targets are set at the price of 1.4765 and 1.4805. Anyway, if the price breaks the level of 1.4675, EUR/NZD may test the level of 1.4615.

Resistance levels:

R1: 1.4790

R2: 1.4805

R3: 1.4830

Support levels:

S1: 1.4750

S2: 1.4730

S3: 1.4710

Trading recommendations for today: watch for potential buying opportunities.