AUD/NZD may rise 38 - 58 pips

1.0930 is our pivot point.

Our preference

Rebound towards 1.1020.

Alternative scenario

Below 1.0930, expect 1.0910 and 1.0890.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.0966 and 1.0985).

Supports and resistances

1.1050 **

1.1030 *

1.1020 **

1.1000

1.0962 last

1.0950

1.0930 **

1.0910 *

1.0890 **

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