EUR/NZD may fall 84 - 126 pips

1.7998 is our pivot point.

Our preference

The downside prevails as long as 1.7998 is resistance.

Alternative scenario

The upside breakout of 1.7998, would call for 1.8067 and 1.8109.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.7959 and 1.7975).

Supports and resistances

1.8109 **

1.8067 *

1.7998 **

1.7970

1.7935 last

1.7851

1.7809 **

1.7768 *

1.7726 **

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