EUR/NZD intraday: below its lower Bollinger band

Our pivot point stands at 1.7505.

Our preference: under pressure below 1.7505.

Alternative scenario: the upside breakout of 1.7505, would call for 1.7563 and 1.7598.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.7474 and 1.7455). Finally, the EUR/NZD has penetrated its lower Bollinger band (1.7452).

Supports and resistances:

1.7598 **

1.7563 *

1.7505 **

1.7482

1.7450 last

1.7378

1.7343 **

1.7309 *

1.7274 **

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 04-10-2023 at 12:29 UTC+1

Price reference: 1.7450 last known on 04-10-2023 at 12:29 UTC+1

Investment horizon: INTRADAY