NZD/USD may fall 37 - 55 pips

0.6084 is our pivot point.

Our preference

The downside prevails as long as 0.6084 is resistance.

Alternative scenario

The upside breakout of 0.6084, would call for 0.6114 and 0.6132.

Comment

The RSI is below 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 0.6062 and 0.6060).

Supports and resistances

0.6132 **

0.6114 *

0.6084 **

0.6072

0.6058 last

0.6021

0.6003 **

0.5985 *

0.5968 **

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