EUR/NZD analysis for July 30, 2015

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Overview:

Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6600. In the daily time frame, we can observe a weak supply in a volume above the average. Strong support level is seen at the level of 1.6340. The short-term had changed from bearish to neutral, but the mid-term trend is still bullish. I am waiting for larger liquidity and stronger price actions to confirm further direction.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6550

R2: 1.6590

R3: 1.6650

Support levels:

S1: 1.6425

S2: 1.6385

S3: 1.6325

Trading recommendations: Be careful when selling EUR/NZD and watch for potential breakout of resistance or support to confirm direction. Strong support is around the level of 1.6340.

The material has been provided by InstaForex Company – www.instaforex.com

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