EUR/NZD may rise 77 - 113 pips

1.7846 is our pivot point.

Our preference

The upside prevails as long as 1.7846 is support.

Alternative scenario

The downside breakout of 1.7846 would call for 1.7784 and 1.7748.

Comment

The RSI is above 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 1.7876 and 1.7873).

Supports and resistances

1.8088 **

1.8051 *

1.8014 **

1.7978

1.7901 last

1.7870

1.7846 **

1.7784 *

1.7748 **

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