Overview:

Since our previous analysis, the EUR/NZD pair has been trading upwards like we expected, the price tested the level of 1.6620. Our previous analysis is still active. We saw selling climax at the price of 1.6517, so selling looks risky. Our upper station is still valid, so major upper station is a level around the price of 1.6790 (FE 100%). Our Fibonacci retracement 38.2% at the price of 1.6508 held successfully and we may expect further bullish continuation. EUR/NZD is in short- and mid-term bullish trend, so watch for buying opportunities on the dips and try to catch the bullish continuation phase.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6616

R2: 1.6645

R3: 1.6692

Support levels:

S1: 1.6523

S2 : 1.6494

S3: 1.6448

Trading recommendation: Be careful with selling the EUR/NZD pair, watch for buying opportunities and try to catch the bullish continuation phase.