EUR/NZD may rise 95 - 137 pips

Our pivot point is at 1.7940.

Our preference

Rise to 1.8133.

Alternative scenario

The downside breakout of 1.7940 would call for 1.7870 and 1.7828.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7994 and 1.7995).

Supports and resistances

1.8216 **

1.8174 *

1.8133 **

1.8091

1.7996 last

1.7967

1.7940 **

1.7870 *

1.7828 **

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