NZD/USD may rise 34 - 50 pips

Our pivot point stands at 0.6133.

Our preference

As long as 0.6133 is support look for 0.6207.

Alternative scenario

The downside breakout of 0.6133 would call for 0.6106 and 0.6090.

Comment

The RSI is above its neutrality area at 50. 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 0.6150 and 0.6136).

Supports and resistances

0.6240 **

0.6223 *

0.6207 **

0.6191

0.6157 last

0.6144

0.6133 **

0.6106 *

0.6090 **

Number of asterisks represents the strength of support and resistance levels.