Recently, EUR/NZD has been trading downwards. As I expected, the price tested the level of 1.4744. My first target from previous forecast at the price of 1.4745 has been met. According to the 15M time frame, I still see lower price and potential for testing 1.4670. There is intraday resistance cluster at the price of 1.4770 (good place for short position). The trend is still downward.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.4845
R2: 1.4870
R3: 1.4915
Support levels:
S1: 1.4750
S2: 1.4730
S3: 1.4685
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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