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FX.co ★ EUR/NZD analysis for April 01, 2015

EUR/NZD analysis for April 01, 2015

EUR/NZD analysis for April 01, 2015

EUR/NZD analysis for April 01, 2015

Overview:

In our last analysis, EUR/NZD was trading upwards. As we expected, the price has tested the level of 1.4519 in a high volume. The price found resistance at the level of 1.4500. The short-term trend is bullish. According to the price action on 4H time frame, we can observe a supply in a weak volume. My advice is to watch for potential buying opportunities on the dips. If the price breaks the level of 1.4500 in a high volume, we will have the resistance level of 1.4580.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4434

R2: 1.4469

R3: 1.4526

Support levels:

S1: 1.4320

S2: 1.4285

S3: 1.4228

Trading recommendations: Be careful when selling and watch for potential buying opportunities on the dips


*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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