FX.co ★ EUR/NZD analysis for July 22, 2016

Recently, EUR/NZD has been moving sideways at the price of 1.5745. According to the 30M time frame, I found a supply trend line, which is holding very successfully. I also found reversal bars (upthrust) at the trend line, which is a sign that buying looks risky. My advice is to watch for selling opportunities. The take profit level is set at the price of 1.5640.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5815

R2: 1.5860

R3: 1.5925

Support levels:

S1: 1.5685

S2: 1.5645

S3: 1.5575

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