EUR/NZD analysis for September 22, 2014 Market Analysis Review

Overview:

Since our last analysis, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.5852. Our Fibonacci expansion 100% at the price of 1.5760 held successful, which caused price to start bullish continuation. We may expect testing the level of 1.5930 (swing high like resistance). Anyway, if the price breaks the level of 1.5900 (swing high like resistance), we may see potential testing the level of 1.6000 (Fibonacci expansion 100%). Be careful when selling and watch for potential buying opportunities.

Daily Fibonacci pivot levels :

Resistance levels:

R1: 1.5873

R2: 1.5909

R3: 1.5967

Support levels:

S1: 1.5758

S2: 1.5722

S3: 1.5665

Trading recommendations: Be careful when selling the EUR/NZD pair since we may see further upward movement.

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



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