EUR/NZD may rise 89 - 133 pips

Our pivot point stands at 1.7888.

Our preference

The upside prevails as long as 1.7888 is support.

Alternative scenario

The downside breakout of 1.7888 would call for 1.7815 and 1.7771.

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 1.7932 and 1.7931). Finally, the EUR/NZD has crossed above its upper Bollinger band (1.7950).

Supports and resistances

1.8175 **

1.8131 *

1.8088 **

1.8044

1.7955 last

1.7917

1.7888 **

1.7815 *

1.7771 **

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