EUR/NZD may fall 50 - 73 pips

Our pivot point stands at 1.7539.

Our preference

Technical rebound towards 1.7539 before a new drop.

Alternative scenario

Above 1.7539, look for 1.7578 and 1.7601.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (1.7488) but under its 50 period moving average (1.7512).

Supports and resistances

1.7601 **

1.7578 *

1.7539 **

1.7524

1.7505 last

1.7455

1.7432 **

1.7409 *

1.7386 **

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