EUR/NZD may rise 48 - 71 pips

1.7638 is our pivot point.

Our preference

The upside prevails as long as 1.7638 is support.

Alternative scenario

The downside breakout of 1.7638 would call for 1.7601 and 1.7578.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7669 and 1.7676).

Supports and resistances

1.7796 **

1.7773 *

1.7751 **

1.7728

1.7680 last

1.7653

1.7638 **

1.7601 *

1.7578 **

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