AUD/NZD may rise to 1.1000 - 1.1090

Our pivot point stands at 1.0670.

Our preference

Rebound.

Alternative scenario

The downside breakout of 1.0670 would call for 1.0540 and 1.0460.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (1.0821) but below its 50 period moving average (1.0890).

Supports and resistances

1.1250 **

1.1170 *

1.1090 **

1.1000

1.0836 last

1.0720

1.0670 **

1.0540 *

1.0460 **

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