July 21, 2025 a 05:08 am
EURNZD: Fibonacci Analysis
The recent analysis of the EURNZD exchange rate reveals a significant upward trend starting from April 2025. The pair has shown strong bullish momentum, potentially driven by macroeconomic factors affecting the Euro and New Zealand Dollar. This trend could attract traders looking for opportunities in the foreign exchange market. Understanding Fibonacci retracement levels is crucial to predict possible areas of support and resistance as the pair continues its ascent.
Fibonacci Analysis
Based on the recent upward trend, we can identify the highest and lowest points in the selected timeframe to calculate the Fibonacci retracement levels. The data points suggest the following figures:
| Description | Date | Price Level |
|---|---|---|
| Trend Start Date | 2025-06-18 | 1.90438 |
| Trend End Date | 2025-07-16 | 1.95765 |
| High Point | 2025-07-16 | 1.95765 |
| Low Point | 2025-06-18 | 1.90438 |
Fibonacci Levels
| Level | Price Level |
|---|---|
| 0.236 | 1.94284 |
| 0.382 | 1.93356 |
| 0.5 | 1.93102 |
| 0.618 | 1.92011 |
| 0.786 | 1.91105 |
The current price is close to 1.9538, indicating it is not yet within any retracement level, suggesting sustained bullish momentum. This technical positioning implies that potential resistance might occur at these Fibonacci zones.
Conclusion
The EURNZD remains in a steady upward trajectory, providing potential opportunities for traders to explore long positions as the price nears critical Fibonacci retracement levels. However, caution should be exercised as a reversal or consolidation could occur. Analysts will closely watch the economic indicators out of Europe and New Zealand, as these could shift market sentiment and impact price trends. Stay informed and use this analysis to guide your trading strategy.