EUR/NZD may fall 54 - 76 pips

1.7689 is our pivot point.

Our preference

The downside prevails as long as 1.7689 is resistance.

Alternative scenario

Above 1.7689, look for 1.7726 and 1.7748.

Comment

The RSI is below its neutrality area at 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 1.7678 and 1.7678).

Supports and resistances

1.7748 **

1.7726 *

1.7689 **

1.7674

1.7657 last

1.7603

1.7581 **

1.7558 *

1.7536 **

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