EUR/NZD may rise 87 - 128 pips

1.7761 is our pivot point.

Our preference

Rebound towards 1.7950.

Alternative scenario

The downside breakout of 1.7761 would call for 1.7692 and 1.7651.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.7834 and 1.7868).

Supports and resistances

1.8032 **

1.7991 *

1.7950 **

1.7909

1.7822 last

1.7788

1.7761 **

1.7692 *

1.7651 **

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