NZD/USD may rise 20 - 30 pips

Our pivot point stands at 0.5892.

Our preference

The upside prevails as long as 0.5892 is support.

Alternative scenario

The downside breakout of 0.5892 would call for 0.5876 and 0.5866.

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 0.5903 and 0.5897). Finally, the NZD/USD has crossed above its upper Bollinger band (0.5909).

Supports and resistances

0.5959 **

0.5950 *

0.5940 **

0.5930

0.5910 last

0.5899

0.5892 **

0.5876 *

0.5866 **

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