FX.co ★ EUR/NZD analysis for September 29, 2016

Recently, EUR/NZD has been moving sideways at the price of 1.5435. I found a broken downward trendline in the background, which is a sign that buyers came on the market and that selling EUR/NZD at this stage looks risky. I found intraday upward trendline which the price is holding successfully. My advice is to watch for buying opportunties on the dips. Upward targets are set at 1.5500 and 1.5540.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5470

R2: 1.5510

R3: 1.5570

Support levels:

S1: 1.5355

S2: 1.5320

S3: 1.5260

Trading recommendations for today: selling EUR/NZD at this stage looks risky. Watch for buying opportunities.