In our last analysis, EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.4278 in a high volume. The price found support around the level of 1.4280 (close to Fibonacci retracement 61.8%). We can observe potential re-testing of downward channel, which may lead to further upward movement. My advice is to watch for potential buying opportunities after a retracement. The resistance level is seen around 1.4490.
Daily Fibonacci pivot levels:
Trading recommendations: Be careful when selling at this stage and watch for potential buying opportunities after a retracement.
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