NZD/USD may fall 38 - 56 pips

Our pivot point is at 0.6097.

Our preference

Technical rebound towards 0.6097 before a new drop.

Alternative scenario

The upside breakout of 0.6097, would call for 0.6127 and 0.6145.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (0.6064) but under its 50 period moving average (0.6074).

Supports and resistances

0.6145 **

0.6127 *

0.6097 **

0.6085

0.6072 last

0.6034

0.6016 **

0.5998 *

0.5980 **

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