AUD/NZD may rise 30 - 50 pips

Our pivot point stands at 1.0860.

Our preference

The upside prevails as long as 1.0860 is support.

Alternative scenario

The downside breakout of 1.0860 would call for 1.0830 and 1.0820.

Comment

The RSI is above 50. 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 1.0876 and 1.0874).

Supports and resistances

1.0970 **

1.0960 *

1.0940 **

1.0920

1.0890 last

1.0870

1.0860 **

1.0830 *

1.0820 **

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