NZD/USD may fall 22 - 33 pips

Our pivot point stands at 0.6102.

Our preference

The downside prevails as long as 0.6102 is resistance.

Alternative scenario

Above 0.6102, look for 0.6120 and 0.6131.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.6099 and 0.6095).

Supports and resistances

0.6131 **

0.6120 *

0.6102 **

0.6094

0.6084 last

0.6062

0.6051 **

0.6040 *

0.6029 **

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