NZD/USD may rise 21 - 31 pips

0.5931 is our pivot point.

Our preference

The upside prevails as long as 0.5931 is support.

Alternative scenario

The downside breakout of 0.5931 would call for 0.5914 and 0.5904.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.5934 and 0.5935).

Supports and resistances

0.5994 **

0.5985 *

0.5975 **

0.5965

0.5944 last

0.5937

0.5931 **

0.5914 *

0.5904 **

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