NZD/USD may fall 31 - 46 pips

0.6080 is our pivot point.

Our preference

As long as 0.6080 is resistance look for 0.6014.

Alternative scenario

Above 0.6080, look for 0.6105 and 0.6120.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands above its 20 period moving average (0.6060) but below its 50 period moving average (0.6063).

Supports and resistances

0.6120 **

0.6105 *

0.6080 **

0.6070

0.6060 last

0.6029

0.6014 **

0.5999 *

0.5984 **

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