NZD/USD may fall to 0.5721 - 0.5801

Our pivot point is at 0.6086.

Our preference

The downside prevails as long as 0.6086 is resistance.

Alternative scenario

The upside breakout of 0.6086, would call for 0.6220 and 0.6300.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.6086 and 0.6085). Finally, the NZD/USD has penetrated its lower Bollinger band (0.5989).

Supports and resistances

0.6300 **

0.6220 *

0.6086 **

0.6033

0.5961 last

0.5801

0.5721 **

0.5642 *

0.5562 **

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