EUR/NZD may rise 47 - 70 pips

1.7485 is our pivot point.

Our preference

As long as 1.7485 is support look for 1.7592.

Alternative scenario

The downside breakout of 1.7485 would call for 1.7446 and 1.7423.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7513 and 1.7497).

Supports and resistances

1.7638 **

1.7615 *

1.7592 **

1.7569

1.7522 last

1.7500

1.7485 **

1.7446 *

1.7423 **

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