EUR/NZD may rise 49 - 72 pips

Our pivot point stands at 1.7464.

Our preference

As long as 1.7464 is support look for 1.7577.

Alternative scenario

The downside breakout of 1.7464 would call for 1.7426 and 1.7403.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7496 and 1.7478).

Supports and resistances

1.7623 **

1.7600 *

1.7577 **

1.7554

1.7505 last

1.7480

1.7464 **

1.7426 *

1.7403 **

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