EUR/NZD may rise 42 - 61 pips

Our pivot point is at 1.7775.

Our preference

As long as 1.7775 is support look for 1.7864.

Alternative scenario

The downside breakout of 1.7775 would call for 1.7743 and 1.7724.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7801 and 1.7775).

Supports and resistances

1.7902 **

1.7883 *

1.7864 **

1.7845

1.7803 last

1.7787

1.7775 **

1.7743 *

1.7724 **

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