Overview:
Recently, EUR/NZD has been moving downwards. As we expected, the price tested the level of 1.7290. In the daily time frame, we can observe a supply bar in an average volume. The intraday trend is downward. According to the M15 chart, we can observe weak demand around the price of 1.7330. The today point of control is at the price of 1.7380. Watch for potential selling opportunities after retracement. Anyway, major daily support at the price of 1.7265 is on the test (daily swing lows). Watch for a potential breakout of that support to confirm further downward movement.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.7665
R2: 1.7740
R3: 1.7860
Support levels:
S1: 1.7430
S2: 1.7350
S3: 1.7235
Trading recommendations: Be careful when buying and watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via EUR/NZD analysis for October 01, 2015 . Thanks for your support.
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