EUR/NZD may fall 61 - 89 pips

Our pivot point stands at 1.8400.

Our preference

The downside prevails as long as 1.8400 is resistance.

Alternative scenario

Above 1.8400, look for 1.8449 and 1.8477.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.8417 and 1.8428). Finally, the EUR/NZD is trading below its lower Bollinger band (standing at 1.8355).

Supports and resistances

1.8477 **

1.8449 *

1.8400 **

1.8381

1.8354 last

1.8293

1.8265 **

1.8236 *

1.8207 **

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