EUR/NZD may rise 49 - 72 pips

Our pivot point is at 1.7969.

Our preference

As long as 1.7969 is support look for 1.8078.

Alternative scenario

The downside breakout of 1.7969 would call for 1.7931 and 1.7907.

Comment

The RSI is above its neutrality area at 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 1.8002 and 1.7993).

Supports and resistances

1.8125 **

1.8102 *

1.8078 **

1.8055

1.8006 last

1.7985

1.7969 **

1.7931 *

1.7907 **

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