EUR/NZD may rise 56 - 79 pips

Our pivot point is at 1.7448.

Our preference

The upside prevails as long as 1.7448 is support.

Alternative scenario

The downside breakout of 1.7448 would call for 1.7409 and 1.7386.

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 both its 20 and 50 period moving average (respectively at 1.7471 and 1.7474).

Supports and resistances

1.7605 **

1.7582 *

1.7559 **

1.7536

1.7480 last

1.7463

1.7448 **

1.7409 *

1.7386 **

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