EUR/NZD may rise to 1.8521 - 1.8799

Our pivot point stands at 1.7502.

Our preference

Rebound.

Alternative scenario

The downside breakout of 1.7502 would call for 1.7039 and 1.6763.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (1.7822) but below its 50 period moving average (1.8001).

Supports and resistances

1.9353 **

1.9076 *

1.8799 **

1.8521

1.7934 last

1.7684

1.7502 **

1.7039 *

1.6763 **

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