EUR/NZD may fall 86 - 127 pips

1.7965 is our pivot point.

Our preference

The downside prevails as long as 1.7965 is resistance.

Alternative scenario

The upside breakout of 1.7965, would call for 1.8035 and 1.8076.

Comment

The RSI is below 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 1.7933 and 1.7960).

Supports and resistances

1.8076 **

1.8035 *

1.7965 **

1.7938

1.7907 last

1.7821

1.7780 **

1.7738 *

1.7697 **

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