AUD/NZD may rise 41 - 51 pips

Our pivot point is at 1.0880.

Our preference

Rebound towards 1.0960.

Alternative scenario

The downside breakout of 1.0880 would call for 1.0860 and 1.0840.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0917 and 1.0928).

Supports and resistances

1.0990 **

1.0980 *

1.0960 **

1.0950

1.0909 last

1.0890

1.0880 **

1.0860 *

1.0840 **

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