EUR/NZD may rise 51 - 74 pips

Our pivot point is at 1.7468.

Our preference

Rebound towards 1.7576.

Alternative scenario

The downside breakout of 1.7468 would call for 1.7430 and 1.7407.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (1.7498) but below its 50 period moving average (1.7509).

Supports and resistances

1.7623 **

1.7599 *

1.7576 **

1.7553

1.7502 last

1.7484

1.7468 **

1.7430 *

1.7407 **

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