AUD/NZD may rise 28 - 38 pips

1.1070 is our pivot point.

Our preference

As long as 1.1070 is support look for 1.1130.

Alternative scenario

The downside breakout of 1.1070 would call for 1.1060 and 1.1050.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (1.1093) but above its 50 period moving average (1.1062).

Supports and resistances

1.1150 **

1.1140 *

1.1130 **

1.1120

1.1092 last

1.1080

1.1070 **

1.1060 *

1.1050 **

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