AUD/NZD may rise 30 - 40 pips

1.0980 is our pivot point.

Our preference

Rebound towards 1.1040.

Alternative scenario

Below 1.0980, expect 1.0960 and 1.0950.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (1.0995) but under its 50 period moving average (1.1012).

Supports and resistances

1.1070 **

1.1060 *

1.1040 **

1.1030

1.1000 last

1.0990

1.0980 **

1.0960 *

1.0950 **

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