FX.co ★ EUR/NZD analysis for May 26, 2016

Recently, EUR/NZD has been moving upwards. The pair tested the level of 1.6684 in a high volume. According to the 30M time frame, I found an upward trend and successful testing of supply at the price of 1.6575. Besides, I found successful rejection from SMA 50. Watch for buying opportunities. The level of 1.6600 looks like a good level to establish buying positions. Take profit level is set at the price of 1.6680.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6575

R2: 1.6600

R3: 1.6650

Support levels:

S1: 1.6485

S2: 1.6475

S3: 1.6410

Trading recommendation for today: The trend is upward. Watch for buying opportunities on dips. Take profit level to be set at the price of 1.6680.