EUR/NZD intraday: as long as 1.7428 is support look for 1.7584

Our pivot point is at 1.7428.

Our preference: as long as 1.7428 is support look for 1.7584.

Alternative scenario: below 1.7428, expect 1.7369 and 1.7334.

Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). 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 1.7446 and 1.7356).

Supports and resistances:

1.7653 **

1.7618 *

1.7584 **

1.7549

1.7477 last

1.7451

1.7428 **

1.7369 *

1.7334 **

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 04-06-2023 at 21:49 UTC+1

Price reference: 1.7477 last known on 04-06-2023 at 21:49 UTC+1

Investment horizon: INTRADAY