NZD/USD may rise 33 - 48 pips

0.6107 is our pivot point.

Our preference

The upside prevails as long as 0.6107 is support.

Alternative scenario

Below 0.6107, expect 0.6081 and 0.6066.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). 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 0.6132 and 0.6135). Finally, the NZD/USD is trading above its upper Bollinger band (standing at 0.6140).

Supports and resistances

0.6225 **

0.6210 *

0.6194 **

0.6179

0.6146 last

0.6118

0.6107 **

0.6081 *

0.6066 **

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