EUR/NZD may rise 68 - 102 pips

1.8298 is our pivot point.

Our preference

As long as 1.8298 is support look for 1.8463.

Alternative scenario

Below 1.8298, expect 1.8242 and 1.8208.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.8309 and 1.8187). Finally, the EUR/NZD has crossed above its upper Bollinger band (1.8357).

Supports and resistances

1.8529 **

1.8496 *

1.8463 **

1.8429

1.8361 last

1.8320

1.8298 **

1.8242 *

1.8208 **

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