NZD/USD may rise 40 - 60 pips

Our pivot point stands at 0.6038.

Our preference

Rebound.

Alternative scenario

Below 0.6038, expect 0.6005 and 0.5985.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (0.6060) but under its 50 period moving average (0.6079). Finally, the NZD/USD has crossed above its upper Bollinger band (0.6068).

Supports and resistances

0.6169 **

0.6149 *

0.6129 **

0.6109

0.6069 last

0.6052

0.6038 **

0.6005 *

0.5985 **

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