EUR/NZD may rise 46 - 68 pips

Our pivot point stands at 1.7476.

Our preference

The upside prevails as long as 1.7476 is support.

Alternative scenario

The downside breakout of 1.7476 would call for 1.7439 and 1.7418.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7479 and 1.7476).

Supports and resistances

1.7620 **

1.7599 *

1.7577 **

1.7555

1.7509 last

1.7490

1.7476 **

1.7439 *

1.7418 **

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