NZD/USD may rise 35 - 52 pips

Our pivot point stands at 0.6187.

Our preference

The upside prevails as long as 0.6187 is support.

Alternative scenario

The downside breakout of 0.6187 would call for 0.6160 and 0.6143.

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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6172 and 0.6155).

Supports and resistances

0.6298 **

0.6281 *

0.6265 **

0.6248

0.6213 last

0.6198

0.6187 **

0.6160 *

0.6143 **

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