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

Recently, EUR/NZD has been moving sideways at the price of 1.5700. According to the 30M time frame, I found trading range between the price of 1.5860 and 1.5575. The trend is downward and my advice to look only for selling opportunities. I found rejection from SMA100 (1h) and SMA 200 (30M). If the price breaks the level of 1.5575 in a high volume, we may see downward continuation and potential testing of 1.5500.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5780

R2: 1.5820

R3: 1.5880

Support levels:

S1: 1.5660

S2: 1.5620

S3: 1.5560

Trading recommendations for today: Watch for selling opportunities on the pullbacks.