EUR/NZD may fall 88 - 130 pips

Our pivot point stands at 1.8147.

Our preference

The downside prevails as long as 1.8147 is resistance.

Alternative scenario

The upside breakout of 1.8147, would call for 1.8218 and 1.8260.

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 is trading under both its 20 and 50 period moving average (respectively at 1.8102 and 1.8100).

Supports and resistances

1.8260 **

1.8218 *

1.8147 **

1.8119

1.8084 last

1.7996

1.7954 **

1.7912 *

1.7870 **

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