NZD/USD may fall 38 - 56 pips

Our pivot point is at 0.6077.

Our preference

The downside prevails as long as 0.6077 is resistance.

Alternative scenario

Above 0.6077, look for 0.6107 and 0.6125.

Comment

The RSI is below its neutrality area at 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 0.6068 and 0.6070).

Supports and resistances

0.6125 **

0.6107 *

0.6077 **

0.6065

0.6051 last

0.6013

0.5995 **

0.5977 *

0.5959 **

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