AUD/NZD may rise 21 - 31 pips

Our pivot point stands at 1.0730.

Our preference

As long as 1.0730 is support look for 1.0780.

Alternative scenario

Below 1.0730, expect 1.0710 and 1.0700.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.0747 and 1.0744).

Supports and resistances

1.0800 **

1.0790 *

1.0780 **

1.0770

1.0749 last

1.0740

1.0730 **

1.0710 *

1.0700 **

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