EUR/NZD may rise 83 - 120 pips

1.7904 is our pivot point.

Our preference

The upside prevails as long as 1.7904 is support.

Alternative scenario

Below 1.7904, expect 1.7842 and 1.7805.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7917 and 1.7911).

Supports and resistances

1.8157 **

1.8120 *

1.8083 **

1.8046

1.7963 last

1.7928

1.7904 **

1.7842 *

1.7805 **

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