NZD/USD may fall to 0.5690 - 0.5829

Our pivot point is at 0.6329.

Our preference

Under pressure below 0.6329.

Alternative scenario

Above 0.6329, look for 0.6564 and 0.6704.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6222 and 0.6122).

Supports and resistances

0.6704 **

0.6564 *

0.6329 **

0.6237

0.6121 last

0.5829

0.5690 **

0.5552 *

0.5413 **

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