NZD/USD may rise 34 - 50 pips

0.6189 is our pivot point.

Our preference

The upside prevails as long as 0.6189 is support.

Alternative scenario

The downside breakout of 0.6189 would call for 0.6162 and 0.6145.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.6207 and 0.6208).

Supports and resistances

0.6294 **

0.6278 *

0.6261 **

0.6245

0.6211 last

0.6200

0.6189 **

0.6162 *

0.6145 **

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