NZD/USD may rise 37 - 55 pips

Our pivot point stands at 0.6047.

Our preference

The upside prevails as long as 0.6047 is support.

Alternative scenario

Below 0.6047, expect 0.6017 and 0.5999.

Comment

The RSI is above its neutrality area at 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 0.6060 and 0.6063). Finally, the NZD/USD has crossed above its upper Bollinger band (0.6070).

Supports and resistances

0.6165 **

0.6147 *

0.6129 **

0.6111

0.6074 last

0.6059

0.6047 **

0.6017 *

0.5999 **

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