AUD/NZD may fall 22 - 32 pips

Our pivot point stands at 1.0840.

Our preference

The downside prevails as long as 1.0840 is resistance.

Alternative scenario

Above 1.0840, look for 1.0850 and 1.0860.

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 1.0827 and 1.0833).

Supports and resistances

1.0860 **

1.0850 *

1.0840 **

1.0830

1.0822 last

1.0800

1.0790 **

1.0780 *

1.0770 **

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