EUR/NZD may fall 85 - 118 pips

Our pivot point stands at 1.8350.

Our preference

The downside prevails as long as 1.8350 is resistance.

Alternative scenario

Above 1.8350, look for 1.8406 and 1.8440.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.8308 and 1.8333).

Supports and resistances

1.8440 **

1.8406 *

1.8350 **

1.8328

1.8306 last

1.8221

1.8188 **

1.8154 *

1.8121 **

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