NZD/USD may rise 23 - 33 pips

0.6039 is our pivot point.

Our preference

The upside prevails as long as 0.6039 is support.

Alternative scenario

Below 0.6039, expect 0.6022 and 0.6012.

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 above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6042 and 0.6022).

Supports and resistances

0.6111 **

0.6101 *

0.6090 **

0.6080

0.6057 last

0.6046

0.6039 **

0.6022 *

0.6012 **

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