Since our last analysis, the EUR/NZD pair has been trading sideways, around the price 1.6261 (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 weak supply bar on volume just above 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 more 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:
Trading recommendation: Be careful with selling and look for buying opportunities. I recommend 1.7360 as the second short-term target.
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