EUR/NZD may rise 84 - 124 pips

Our pivot point is at 1.7995.

Our preference

As long as 1.7995 is support look for 1.8176.

Alternative scenario

The downside breakout of 1.7995 would call for 1.7927 and 1.7887.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.8042 and 1.7981).

Supports and resistances

1.8256 **

1.8216 *

1.8176 **

1.8136

1.8052 last

1.8021

1.7995 **

1.7927 *

1.7887 **

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