EUR/NZD may rise 81 - 121 pips

1.7925 is our pivot point.

Our preference

Rebound towards 1.8108.

Alternative scenario

The downside breakout of 1.7925 would call for 1.7857 and 1.7817.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (1.7986) but below its 50 period moving average (1.8023).

Supports and resistances

1.8188 **

1.8148 *

1.8108 **

1.8068

1.7987 last

1.7951

1.7925 **

1.7857 *

1.7817 **

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