NZD/USD may fall 26 - 38 pips

Our pivot point is at 0.6207.

Our preference

The downside prevails as long as 0.6207 is resistance.

Alternative scenario

The upside breakout of 0.6207, would call for 0.6228 and 0.6240.

Comment

The RSI is below 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 0.6194 and 0.6193).

Supports and resistances

0.6240 **

0.6228 *

0.6207 **

0.6198

0.6188 last

0.6162

0.6150 **

0.6137 *

0.6125 **

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