NZD/USD may fall to 0.5701 - 0.5825

Our pivot point stands at 0.6258.

Our preference

The downside prevails as long as 0.6258 is resistance.

Alternative scenario

Above 0.6258, look for 0.6467 and 0.6592.

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 0.6206 and 0.6122).

Supports and resistances

0.6592 **

0.6467 *

0.6258 **

0.6176

0.6083 last

0.5825

0.5701 **

0.5576 *

0.5452 **

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