EUR/NZD may rise 44 - 66 pips

1.7644 is our pivot point.

Our preference

The upside prevails as long as 1.7644 is support.

Alternative scenario

The downside breakout of 1.7644 would call for 1.7607 and 1.7585.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7669 and 1.7660).

Supports and resistances

1.7786 **

1.7764 *

1.7742 **

1.7720

1.7676 last

1.7658

1.7644 **

1.7607 *

1.7585 **

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