EUR/NZD may rise 44 - 63 pips

Our pivot point stands at 1.7878.

Our preference

The upside prevails as long as 1.7878 is support.

Alternative scenario

Below 1.7878, expect 1.7846 and 1.7827.

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 1.7873 and 1.7843). Finally, the EUR/NZD is trading above its upper Bollinger band (standing at 1.7905).

Supports and resistances

1.8009 **

1.7989 *

1.7970 **

1.7951

1.7907 last

1.7891

1.7878 **

1.7846 *

1.7827 **

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