EUR/NZD may fall 52 - 75 pips

Our pivot point stands at 1.7500.

Our preference

As long as 1.7500 is resistance look for 1.7393.

Alternative scenario

The upside breakout of 1.7500, would call for 1.7538 and 1.7561.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading above its 20 period moving average (1.7462) but under its 50 period moving average (1.7474).

Supports and resistances

1.7561 **

1.7538 *

1.7500 **

1.7485

1.7468 last

1.7416

1.7393 **

1.7370 *

1.7347 **

Number of asterisks represents the strength of support and resistance levels.