EUR/NZD may rise 77 - 114 pips

Our pivot point is at 1.7848.

Our preference

As long as 1.7848 is support look for 1.8041.

Alternative scenario

The downside breakout of 1.7848 would call for 1.7786 and 1.7749.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7925 and 1.7906).

Supports and resistances

1.8115 **

1.8078 *

1.8041 **

1.8004

1.7927 last

1.7872

1.7848 **

1.7786 *

1.7749 **

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