FX.co ★ EUR/NZD analysis for May 24, 2016

Recently, EUR/NZD has been moving upwards. As I expected, the pair tested the level of 1.6709 in a high volume. Anyway, I found supply in a high volume today and it seems like that sellers are in control. Be careful when buying and watch for selling opportunities. I placed Fibonacci retracement and got Fibonacci retracement 61.8% at the price of 1.6560 (first downward target). The intraday trend is neutral.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6600

R2: 1.6631

R3: 1.6675

Support levels:

S1: 1.6505

S2: 1.6475

S3: 1.6430

Trading recommendation for today: Be careful when buying and watch for selling opportunities.