NZD/USD may rise 22 - 32 pips

0.5932 is our pivot point.

Our preference

Look for a drop towards 0.5932 before a bounce.

Alternative scenario

The downside breakout of 0.5932 would call for 0.5915 and 0.5905.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price stands above its 20 period moving average (0.5948) but below its 50 period moving average (0.5949).

Supports and resistances

0.6001 **

0.5991 *

0.5981 **

0.5971

0.5949 last

0.5938

0.5932 **

0.5915 *

0.5905 **

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