EUR/NZD may rise 76 - 109 pips

1.8046 is our pivot point.

Our preference

Rebound towards 1.8200.

Alternative scenario

The downside breakout of 1.8046 would call for 1.7991 and 1.7958.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (1.8084) but below its 50 period moving average (1.8110).

Supports and resistances

1.8266 **

1.8233 *

1.8200 **

1.8167

1.8091 last

1.8068

1.8046 **

1.7991 *

1.7958 **

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