Overview:

Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.6190 on average volume. Our previous analysis is still active. Be careful with selling since we've got selling on very high volume, according to the daily chart. We can observe rejection from the level of 1.6083, which is sign that we may see possible bullish reaction. The EUR/NZD is in short- and mid-term bullish trend, so watch for buying opportunities on the dips and try to catch the bullish phase. To confrim potential bullish phase, we need to see strong demand on high volume on the market. Anyway, if the price breaks the level of 1.6130 on high volume, we may see testing of the level 1.6020 (Fibonacci expansion 100%) before any larger upward movement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6262

R2: 1.6311

R3: 1.6391

Support levels:

S1: 1.6101

S2 : 1.6052

S3: 1.5971

Trading recommendation: Be careful with selling the EUR/NZD pair since we got selling climax according, to the daily chart.