Our pivot point is at 1.7412.
Our preference: the downside prevails as long as 1.7412 is resistance.
Alternative scenario: the upside breakout of 1.7412, would call for 1.7465 and 1.7497.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.7413 and 1.7397). Finally, the EUR/NZD is trading below its lower Bollinger band (standing at 1.7364).
Supports and resistances:
1.7497 **
1.7465 *
1.7412 **
1.7392
1.7348 last
1.7282
1.7250 **
1.7219 *
1.7187 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 03-28-2023 at 05:28 UTC+1
Price reference: 1.7348 last known on 03-28-2023 at 05:28 UTC+1
Investment horizon: INTRADAY