NZD/USD may fall 28 - 40 pips

0.6190 is our pivot point.

Our preference

The downside prevails as long as 0.6190 is resistance.

Alternative scenario

Above 0.6190, look for 0.6211 and 0.6223.

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 0.6185 and 0.6176). Finally, the NZD/USD is trading below its lower Bollinger band (standing at 0.6172).

Supports and resistances

0.6223 **

0.6211 *

0.6190 **

0.6182

0.6170 last

0.6142

0.6130 **

0.6118 *

0.6105 **

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