NZD/USD may fall to 0.5669 - 0.5786

Our pivot point is at 0.6216.

Our preference

The downside prevails as long as 0.6216 is resistance.

Alternative scenario

The upside breakout of 0.6216, would call for 0.6414 and 0.6532.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.6177 and 0.6132).

Supports and resistances

0.6532 **

0.6414 *

0.6216 **

0.6138

0.6047 last

0.5786

0.5669 **

0.5552 *

0.5435 **

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