AUD/NZD may rise 24 - 44 pips

Our pivot point stands at 1.0900.

Our preference

Our next up target stands at 1.0970.

Alternative scenario

Below 1.0900, expect 1.0880 and 1.0870.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.0878 and 1.0906). Finally, the AUD/NZD is trading above its upper Bollinger band (standing at 1.0923).

Supports and resistances

1.0990 **

1.0980 *

1.0970 **

1.0950

1.0926 last

1.0900

1.0900 **

1.0880 *

1.0870 **

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