EUR/NZD analysis for September 29, 2015

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Overview:

Recently, EUR/NZD has been moving upwards.The price tested the level of 1.7895. In the daily time frame, we can observe a demand bar in an average volume. The intraday trend is downward. According to the M15 chart, we can see weaknesses in strong downward momentum. Watch for potential selling opportunities after retracement. Potential target zone is around the prices of 1.7550-1.7450.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.7780

R2: 1.7855

R3: 1.7975

Support levels:

S1: 1.7540

S2: 1.7460

S3: 1.7350

Trading recommendations: Be careful when buying and watch for potential selling opportunities.

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

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