Analysis of EUR/NZD for December 27, 2016

Recently, EUR/NZD has been moving sideways at the price of 1.5140. Using the market profile, I found yesterday's point of control at 1.5115 on the 30M time frame. There is absorption volume in the background. My advice is to watch for buying opportunities on dips. Upward targets are set at the price of 1.5185 and 1.5230. Anyway, if the price go lower, EUR/NZD may re-test the level of 1.5100.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5160

R2: 1.5185

R3: 1.5225

Support levels:

S1: 1.5080

S2: 1.5050

S3: 1.5010

Trading recommendations for today: watch for buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com

From www.instaforex.com http://ift.tt/2ht6MQk