EUR/NZD Analysis for April 04, 2016
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6645 in a high volume. EUR/NZD is trading in a defined upward trend channel. Watch for buying opportunities on dips inside the channel. First, the take profit level is set at the price of 1.6645. I found absorption of selling climax in the background, which is a sign that selling EUR/NZD looks very risky.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6610
R2: 1.6665
R3: 1.6770
Support levels:
S1: 1.6420
S2: 1.6360
S3: 1.6265
Trading recommendation for today: Watch for buying opportunities on the dips.
The material has been provided by InstaForex Company - www.instaforex.com
