EUR/NZD may rise 47 - 68 pips

Our pivot point stands at 1.7562.

Our preference

The upside prevails as long as 1.7562 is support.

Alternative scenario

The downside breakout of 1.7562 would call for 1.7525 and 1.7504.

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 1.7583 and 1.7577).

Supports and resistances

1.7710 **

1.7688 *

1.7666 **

1.7645

1.7598 last

1.7576

1.7562 **

1.7525 *

1.7504 **

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