EUR/NZD may fall 51 - 73 pips

1.7593 is our pivot point.

Our preference

The downside prevails as long as 1.7593 is resistance.

Alternative scenario

The upside breakout of 1.7593, would call for 1.7630 and 1.7652.

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 stands below its 20 and 50 period moving average (respectively at 1.7576 and 1.7567).

Supports and resistances

1.7652 **

1.7630 *

1.7593 **

1.7579

1.7562 last

1.7511

1.7489 **

1.7468 *

1.7446 **

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