NZD/USD may rise 26 - 37 pips

Our pivot point is at 0.5953.

Our preference

Rebound towards 0.6006.

Alternative scenario

The downside breakout of 0.5953 would call for 0.5934 and 0.5923.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.5975 and 0.5984).

Supports and resistances

0.6029 **

0.6017 *

0.6006 **

0.5995

0.5969 last

0.5961

0.5953 **

0.5934 *

0.5923 **

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