NZD/USD may rise 41 - 61 pips

0.6110 is our pivot point.

Our preference

The upside prevails as long as 0.6110 is support.

Alternative scenario

The downside breakout of 0.6110 would call for 0.6076 and 0.6056.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.6124 and 0.6125).

Supports and resistances

0.6240 **

0.6220 *

0.6199 **

0.6179

0.6138 last

0.6123

0.6110 **

0.6076 *

0.6056 **

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