AUD/NZD may rise 33 - 43 pips

Our pivot point stands at 1.1000.

Our preference

Rebound towards 1.1060.

Alternative scenario

The downside breakout of 1.1000 would call for 1.0980 and 1.0960.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.1022 and 1.1030).

Supports and resistances

1.1090 **

1.1070 *

1.1060 **

1.1050

1.1017 last

1.1010

1.1000 **

1.0980 *

1.0960 **

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