NZD/USD may rise 21 - 31 pips

0.6061 is our pivot point.

Our preference

As long as 0.6061 is support look for 0.6109.

Alternative scenario

Below 0.6061, expect 0.6044 and 0.6034.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.6070 and 0.6048).

Supports and resistances

0.6129 **

0.6119 *

0.6109 **

0.6099

0.6078 last

0.6068

0.6061 **

0.6044 *

0.6034 **

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