EUR/NZD may rise 50 - 72 pips

1.7458 is our pivot point.

Our preference

As long as 1.7458 is support look for 1.7562.

Alternative scenario

The downside breakout of 1.7458 would call for 1.7422 and 1.7401.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7479 and 1.7451).

Supports and resistances

1.7605 **

1.7584 *

1.7562 **

1.7540

1.7490 last

1.7473

1.7458 **

1.7422 *

1.7401 **

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