EUR/NZD may rise 76 - 113 pips

1.7867 is our pivot point.

Our preference

As long as 1.7867 is support look for 1.8038.

Alternative scenario

The downside breakout of 1.7867 would call for 1.7805 and 1.7768.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7923 and 1.7903).

Supports and resistances

1.8112 **

1.8075 *

1.8038 **

1.8001

1.7925 last

1.7891

1.7867 **

1.7805 *

1.7768 **

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