EUR/NZD may fall 55 - 77 pips

1.7645 is our pivot point.

Our preference

The downside prevails as long as 1.7645 is resistance.

Alternative scenario

Above 1.7645, look for 1.7681 and 1.7703.

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 1.7626 and 1.7639).

Supports and resistances

1.7703 **

1.7681 *

1.7645 **

1.7630

1.7611 last

1.7556

1.7534 **

1.7513 *

1.7491 **

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