Overview:
Recently, EUR/NZD has been moving downwards. As I had expected, the price tested the level of 1.6083. The short-term trend has changed from neutral to downward. The major 22-day trading range support at the level of 1.6150 was finally broken. In the H4 time frame, our strong support area between the price of 1.6150-1.6240 now became strong resistance. Watch for potential selling opportunities. The support level is at the price of 1.6085.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.6230
R2: 1.6265
R3: 1.6325
Support levels:
S1: 1.6110
S2: 1.6075
S3: 1.6015
Trading recommendations : Intraday selling opportunities are preferable. The first support level is at the price of 1.6085. According to the daily time frame, the profit level is at the price of 1.5720.
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 November 26, 2015 . Thanks for your support.
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