EUR/NZD may rise 71 - 105 pips

Our pivot point stands at 1.7922.

Our preference

The upside prevails as long as 1.7922 is support.

Alternative scenario

Below 1.7922, expect 1.7864 and 1.7829.

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 1.7928 and 1.7943). Finally, the EUR/NZD is trading above its upper Bollinger band (standing at 1.7982).

Supports and resistances

1.8157 **

1.8122 *

1.8087 **

1.8053

1.7982 last

1.7945

1.7922 **

1.7864 *

1.7829 **

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