EUR/NZD may rise 53 - 79 pips

Our pivot point is at 1.8390.

Our preference

As long as 1.8390 is support look for 1.8509.

Alternative scenario

The downside breakout of 1.8390 would call for 1.8346 and 1.8319.

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 1.8407 and 1.8364).

Supports and resistances

1.8562 **

1.8536 *

1.8509 **

1.8483

1.8430 last

1.8407

1.8390 **

1.8346 *

1.8319 **

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