EUR/NZD may fall 85 - 125 pips

Our pivot point stands at 1.7954.

Our preference

The downside prevails as long as 1.7954 is resistance.

Alternative scenario

The upside breakout of 1.7954, would call for 1.8021 and 1.8061.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.7906 and 1.7925).

Supports and resistances

1.8061 **

1.8021 *

1.7954 **

1.7928

1.7895 last

1.7810

1.7770 **

1.7731 *

1.7691 **

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