EUR/NZD may fall 55 - 81 pips

1.8248 is our pivot point.

Our preference

Under pressure below 1.8248.

Alternative scenario

The upside breakout of 1.8248, would call for 1.8292 and 1.8318.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.8238 and 1.8215). Finally, the EUR/NZD has penetrated its lower Bollinger band (1.8213).

Supports and resistances

1.8318 **

1.8292 *

1.8248 **

1.8231

1.8210 last

1.8155

1.8129 **

1.8104 *

1.8078 **

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