AUD/NZD may rise 30 - 50 pips

Our pivot point stands at 1.1070.

Our preference

The upside prevails as long as 1.1070 is support.

Alternative scenario

Below 1.1070, expect 1.1040 and 1.1030.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.1085 and 1.1079).

Supports and resistances

1.1170 **

1.1150 *

1.1140 **

1.1120

1.1090 last

1.1080

1.1070 **

1.1040 *

1.1030 **

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