AUD/NZD may rise 23 - 33 pips

1.1070 is our pivot point.

Our preference

Rebound towards 1.1120.

Alternative scenario

The downside breakout of 1.1070 would call for 1.1050 and 1.1040.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.1087 and 1.1090).

Supports and resistances

1.1140 **

1.1130 *

1.1120 **

1.1110

1.1087 last

1.1080

1.1070 **

1.1050 *

1.1040 **

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