EURNZD may fall 96 - 138 pips
Our pivot point is at 1.6712.
Our preference
The downside prevails as long as 1.6712 is resistance.
Alternative scenario
The upside breakout of 1.6712, would call for 1.6782 and 1.6824.
Comment
The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.6696 and 1.6716).
Our pivot point is at 1.6712.
Our preference
The downside prevails as long as 1.6712 is resistance.
Alternative scenario
The upside breakout of 1.6712, would call for 1.6782 and 1.6824.
Comment
The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.6696 and 1.6716).