EUR/NZD may fall 52 - 74 pips

1.7597 is our pivot point.

Our preference

The downside prevails as long as 1.7597 is resistance.

Alternative scenario

Above 1.7597, look for 1.7634 and 1.7656.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.7578 and 1.7592).

Supports and resistances

1.7656 **

1.7634 *

1.7597 **

1.7583

1.7565 last

1.7513

1.7491 **

1.7469 *

1.7448 **

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