NZD/USD may fall 39 - 56 pips

Our pivot point stands at 0.6091.

Our preference

Under pressure below 0.6091.

Alternative scenario

Above 0.6091, look for 0.6121 and 0.6139.

Comment

The RSI is below 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 0.6068 and 0.6070).

Supports and resistances

0.6139 **

0.6121 *

0.6091 **

0.6079

0.6064 last

0.6025

0.6008 **

0.5990 *

0.5972 **

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