EURNZD may rise 76 - 111 pips
Our preference
The upside prevails as long as 1.6498 is support.
Alternative scenario
Below 1.6498, expect 1.6440 and 1.6405.
Comment
The RSI is above its neutrality area at 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 1.6530 and 1.6486).
Daily and weekly charts are also bullish.
Our preference
The upside prevails as long as 1.6498 is support.
Alternative scenario
Below 1.6498, expect 1.6440 and 1.6405.
Comment
The RSI is above its neutrality area at 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 1.6530 and 1.6486).
Daily and weekly charts are also bullish.