Overview:
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6343. In the daily time frame, we can observe a neutral bar. Our Fibonacci retracement 50% major held successfully and the price was rejected. Anyway, we can observe successful rejection from our resistance level at 1.6340. The trend is downward and my advice is to watch for potential selling opportunities. Support level is at the level of 1.6150.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.6370
R2: 1.6425
R3: 1.6510
Support levels:
S1: 1.6195
S2: 1.6140
S3: 1.6053
Trading recommendations: Be careful when buying at this stage. Selling positions are preferable.
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 26, 2015 . Thanks for your support.
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