EUR/NZD may rise 89 - 131 pips

Our pivot point stands at 1.7819.

Our preference

The upside prevails as long as 1.7819 is support.

Alternative scenario

The downside breakout of 1.7819 would call for 1.7748 and 1.7705.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7857 and 1.7857).

Supports and resistances

1.8098 **

1.8055 *

1.8012 **

1.7970

1.7881 last

1.7847

1.7819 **

1.7748 *

1.7705 **

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