EUR/NZD may rise 84 - 126 pips

Our pivot point stands at 1.7945.

Our preference

The upside prevails as long as 1.7945 is support.

Alternative scenario

The downside breakout of 1.7945 would call for 1.7874 and 1.7833.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7997 and 1.7993).

Supports and resistances

1.8221 **

1.8179 *

1.8137 **

1.8095

1.8011 last

1.7972

1.7945 **

1.7874 *

1.7833 **

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