NZD/USD may rise 21 - 31 pips

Our pivot point stands at 0.5892.

Our preference

The upside prevails as long as 0.5892 is support.

Alternative scenario

Below 0.5892, expect 0.5876 and 0.5866.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.5903 and 0.5897). Finally, the NZD/USD is trading above its upper Bollinger band (standing at 0.5910).

Supports and resistances

0.5964 **

0.5954 *

0.5944 **

0.5934

0.5913 last

0.5899

0.5892 **

0.5876 *

0.5866 **

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