NZD/USD may rise 23 - 34 pips

0.5937 is our pivot point.

Our preference

The upside prevails as long as 0.5937 is support.

Alternative scenario

The downside breakout of 0.5937 would call for 0.5920 and 0.5909.

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 0.5944 and 0.5941).

Supports and resistances

0.6008 **

0.5997 *

0.5987 **

0.5976

0.5953 last

0.5944

0.5937 **

0.5920 *

0.5909 **

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