EUR/NZD may fall 52 - 75 pips

Our pivot point is at 1.7724.

Our preference

Eye 1.7620.

Alternative scenario

The upside breakout of 1.7724, would call for 1.7762 and 1.7784.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under its 20 period moving average (1.7702) but above its 50 period moving average (1.7688).

Supports and resistances

1.7784 **

1.7762 *

1.7724 **

1.7709

1.7695 last

1.7643

1.7620 **

1.7598 *

1.7576 **

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