EUR/NZD may rise to 1.8441 - 1.8696

1.7552 is our pivot point.

Our preference

Rebound.

Alternative scenario

The downside breakout of 1.7552 would call for 1.7125 and 1.6870.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (1.7825) but under its 50 period moving average (1.7996).

Supports and resistances

1.9206 **

1.8951 *

1.8696 **

1.8441

1.7925 last

1.7720

1.7552 **

1.7125 *

1.6870 **

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