NZD/USD may fall 26 - 38 pips

0.6198 is our pivot point.

Our preference

The downside prevails as long as 0.6198 is resistance.

Alternative scenario

Above 0.6198, look for 0.6219 and 0.6232.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6196 and 0.6190). Finally, the NZD/USD has penetrated its lower Bollinger band (0.6179).

Supports and resistances

0.6232 **

0.6219 *

0.6198 **

0.6190

0.6179 last

0.6153

0.6141 **

0.6129 *

0.6116 **

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