EUR/NZD may fall 93 - 126 pips

1.8205 is our pivot point.

Our preference

The downside prevails as long as 1.8205 is resistance.

Alternative scenario

The upside breakout of 1.8205, would call for 1.8260 and 1.8293.

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 1.8191 and 1.8221).

Supports and resistances

1.8293 **

1.8260 *

1.8205 **

1.8183

1.8160 last

1.8067

1.8034 **

1.8001 *

1.7968 **

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