EUR/NZD may rise 83 - 123 pips

Our pivot point is at 1.7903.

Our preference

The upside prevails as long as 1.7903 is support.

Alternative scenario

Below 1.7903, expect 1.7836 and 1.7796.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7935 and 1.7927). Finally, the EUR/NZD is trading above its upper Bollinger band (standing at 1.7965).

Supports and resistances

1.8169 **

1.8129 *

1.8089 **

1.8049

1.7966 last

1.7929

1.7903 **

1.7836 *

1.7796 **

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