Recently, EUR/NZD has been trading downwards. The price tested the level of 1.4820. Using the Ichimoku on the 4H time frame, I found strong resistance levels at the price of 1.4860 (Kijun sen) and 1.4886 (Tenkan sen). The short-term trend is downward. Watch for selling opportunities on the pullback. First downward target is set at the price of 1.4770.
Fibonacci Pivot Points:
Resistance levels
R1: 1.4930
R2: 1.4950
R3: 1.4980
Support levels:
S1: 1.4860
S2: 1.4840
S3: 1.4800
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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