EUR/NZD may fall 73 - 107 pips

Our pivot point stands at 1.8339.

Our preference

The downside prevails as long as 1.8339 is resistance.

Alternative scenario

The upside breakout of 1.8339, would call for 1.8395 and 1.8429.

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 1.8320 and 1.8321). Finally, the EUR/NZD has penetrated its lower Bollinger band (1.8290).

Supports and resistances

1.8429 **

1.8395 *

1.8339 **

1.8317

1.8288 last

1.8215

1.8181 **

1.8148 *

1.8115 **

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