EUR/NZD may rise 46 - 68 pips

1.7606 is our pivot point.

Our preference

The upside prevails as long as 1.7606 is support.

Alternative scenario

The downside breakout of 1.7606 would call for 1.7569 and 1.7547.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7630 and 1.7622).

Supports and resistances

1.7760 **

1.7738 *

1.7717 **

1.7695

1.7649 last

1.7620

1.7606 **

1.7569 *

1.7547 **

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