EUR/NZD may fall 79 - 116 pips

Our pivot point stands at 1.7990.

Our preference

Eye 1.7823.

Alternative scenario

The upside breakout of 1.7990, would call for 1.8052 and 1.8089.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is below its 20 period moving average (1.7953) but above its 50 period moving average (1.7931).

Supports and resistances

1.8089 **

1.8052 *

1.7990 **

1.7966

1.7939 last

1.7860

1.7823 **

1.7786 *

1.7749 **

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