AUD/NZD may rise 27 - 47 pips

1.1010 is our pivot point.

Our preference

As long as 1.1010 is support look for 1.1080.

Alternative scenario

The downside breakout of 1.1010 would call for 1.0990 and 1.0970.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (1.1034) but above its 50 period moving average (1.1025).

Supports and resistances

1.1110 **

1.1090 *

1.1080 **

1.1060

1.1033 last

1.1020

1.1010 **

1.0990 *

1.0970 **

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