EUR/NZD may rise 42 - 61 pips

1.7663 is our pivot point.

Our preference

The upside prevails as long as 1.7663 is support.

Alternative scenario

The downside breakout of 1.7663 would call for 1.7631 and 1.7612.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7684 and 1.7670).

Supports and resistances

1.7793 **

1.7775 *

1.7756 **

1.7737

1.7695 last

1.7676

1.7663 **

1.7631 *

1.7612 **

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