NZD/USD may fall 23 - 34 pips

Our pivot point stands at 0.6077.

Our preference

The downside prevails as long as 0.6077 is resistance.

Alternative scenario

The upside breakout of 0.6077, would call for 0.6097 and 0.6108.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6068 and 0.6072). Finally, the NZD/USD is trading below its lower Bollinger band (standing at 0.6059).

Supports and resistances

0.6108 **

0.6097 *

0.6077 **

0.6070

0.6058 last

0.6035

0.6024 **

0.6012 *

0.6001 **

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