NZD/USD may fall 33 - 50 pips

Our pivot point is at 0.6182.

Our preference

As long as 0.6182 is resistance look for 0.6104.

Alternative scenario

Above 0.6182, look for 0.6209 and 0.6225.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6155 and 0.6154).

Supports and resistances

0.6225 **

0.6209 *

0.6182 **

0.6171

0.6154 last

0.6121

0.6104 **

0.6088 *

0.6072 **

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