Overview: Since our last analysis, the EUR/NZD pair has been trading sideways, around the price of 1.6300 (FE 261.8 %). We are still waiting for an upward movement and testing the level of 1.7360. The current situation in (4H) timeframe is that we have got high volume demand bars. That is a sign that we may see further upward movement. In the daily chart we can observe demand bar on volume just below the average. This is a sign that we may expect EUR recovery and a test of the level of 1.7360 (FE 61.8 %). Anyway, if the price breaks the level of 1.6220 on high volume, we may see a deeper downward movement. Since we are in the uptrend, according to the daily chart, I advise you to watch for buying opportunities. Daily pivot Fibonacci points: Resistance levels: R1: 1.6343 R2: 1.6368 R3: 1.6410 Support levels: S1: 1.6260 S2: 1.6235 S3: 1.6194 Trading recommendation: Be careful with selling and look for buying opportunities. I recommend 1.7360 as the second short-term target.
