NZD/USD may fall 39 - 57 pips

Our pivot point stands at 0.6081.

Our preference

The downside prevails as long as 0.6081 is resistance.

Alternative scenario

The upside breakout of 0.6081, would call for 0.6111 and 0.6129.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.6060 and 0.6060).

Supports and resistances

0.6129 **

0.6111 *

0.6081 **

0.6069

0.6057 last

0.6018

0.6000 **

0.5982 *

0.5964 **

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