NZD/USD may rise 24 - 34 pips

Our pivot point is at 0.5988.

Our preference

The upside prevails as long as 0.5988 is support.

Alternative scenario

The downside breakout of 0.5988 would call for 0.5970 and 0.5959.

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 above its 20 and 50 period moving average (respectively at 0.5995 and 0.5996).

Supports and resistances

0.6059 **

0.6048 *

0.6037 **

0.6027

0.6003 last

0.5995

0.5988 **

0.5970 *

0.5959 **

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