Recently, EUR/NZD is moving sideways around the level of 1.6245. As we had expected, the price tested the level of 1.6235 in a high volume. In the daily time frame, we can observe a demand bar, which is a sign that selling looks risky. The short-term trend is neutral, but the mid-term trend is bullish. We got a gap between the level of 1.6300 and 1.6115. Bullish phase is in progress, so watch for potential buying opportunities on dips. Anyway, I had placed Fibonacci retracement to find potential resistance levels and I got Fibonacci retracement 50% at the price of 1.6300 and Fibonacci retracement 61.8% at the price of 1.6370.
Fibonacci Pivot Points :
Trading recommendations: Market is sideways around the level of 1.6240. The rice is still in the gap zone. Watch for a potential breakout of the gap zone.
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