NZD/USD may rise 29 - 40 pips

Our pivot point is at 0.5963.

Our preference

The upside prevails as long as 0.5963 is support.

Alternative scenario

The downside breakout of 0.5963 would call for 0.5945 and 0.5934.

Comment

The RSI is above its neutrality area at 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 0.5955 and 0.5944). Finally, the NZD/USD has crossed above its upper Bollinger band (0.5977).

Supports and resistances

0.6040 **

0.6029 *

0.6019 **

0.6008

0.5979 last

0.5970

0.5963 **

0.5945 *

0.5934 **

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