FX.co ★ EUR/NZD analysis for May 27, 2016

Recently, EUR/NZD has been moving sideways at the price of 1.6570. According to the 30M time frame, I found trading range between the price of 1.6550 (support) and the price of 1.6635 (resistance). Watch for successful breakout of trading range to confirm further direction. If the price breaks the level of 1.6636, we may see potential testing of 1.6680, and if the price breaks the level of 1.6550, we may see potential testing of 1.6510.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6665

R2: 1.6700

R3: 1.6750

Support levels:

S1: 1.6560

S2: 1.6525

S3: 1.6470

Trading recommendation for today: Watch for breakout of the trading range to confirm further direction.