EUR/NZD may fall 54 - 75 pips

Our pivot point stands at 1.7622.

Our preference

The downside prevails as long as 1.7622 is resistance.

Alternative scenario

Above 1.7622, look for 1.7658 and 1.7680.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.7601 and 1.7613).

Supports and resistances

1.7680 **

1.7658 *

1.7622 **

1.7607

1.7591 last

1.7537

1.7516 **

1.7494 *

1.7472 **

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