EUR/NZD may rise 50 - 72 pips

1.7655 is our pivot point.

Our preference

Our next up target stands at 1.7763.

Alternative scenario

The downside breakout of 1.7655 would call for 1.7618 and 1.7595.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7672 and 1.7690).

Supports and resistances

1.7808 **

1.7786 *

1.7763 **

1.7741

1.7691 last

1.7670

1.7655 **

1.7618 *

1.7595 **

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