AUD/NZD may rise 38 - 48 pips

Our pivot point stands at 1.0890.

Our preference

As long as 1.0890 is support look for 1.0970.

Alternative scenario

The downside breakout of 1.0890 would call for 1.0860 and 1.0850.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.0916 and 1.0905).

Supports and resistances

1.1010 **

1.0990 *

1.0970 **

1.0960

1.0922 last

1.0900

1.0890 **

1.0860 *

1.0850 **

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