EUR/NZD may rise 55 - 81 pips

1.8367 is our pivot point.

Our preference

Look for a drop towards 1.8367 before a bounce.

Alternative scenario

Below 1.8367, expect 1.8323 and 1.8297.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (1.8420) but above its 50 period moving average (1.8410).

Supports and resistances

1.8546 **

1.8520 *

1.8493 **

1.8467

1.8412 last

1.8384

1.8367 **

1.8323 *

1.8297 **

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