NZD/USD may fall 36 - 53 pips

0.6032 is our pivot point.

Our preference

The downside prevails as long as 0.6032 is resistance.

Alternative scenario

The upside breakout of 0.6032, would call for 0.6061 and 0.6078.

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 0.6021 and 0.6012). Finally, the NZD/USD is trading below its lower Bollinger band (standing at 0.6007).

Supports and resistances

0.6078 **

0.6061 *

0.6032 **

0.6021

0.6007 last

0.5971

0.5954 **

0.5938 *

0.5921 **

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