Recently, EUR/NZD has been trading sideways at the price of 1.4780. According to the 15M time frame, I found hidden bearish divergence on moving average oscilator and breakout of upward trendline, which is sign that buying looks risky. There is intraday resistance cluster at the price of 1.4800 (good place for short position). The trend is still downward. My advice is to watch for selling opportunities. First downward target is set at the price of 1.4750.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.4830
R2: 1.4860
R3: 1.4910
Support levels:
S1: 1.4745
S2: 1.4715
S3: 1.4670
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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