EUR/NZD may rise 94 - 138 pips

1.7931 is our pivot point.

Our preference

As long as 1.7931 is support look for 1.8130.

Alternative scenario

The downside breakout of 1.7931 would call for 1.7858 and 1.7814.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7986 and 1.7958).

Supports and resistances

1.8217 **

1.8173 *

1.8130 **

1.8086

1.7992 last

1.7960

1.7931 **

1.7858 *

1.7814 **

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