NZD/USD may fall 26 - 38 pips

Our pivot point is at 0.6194.

Our preference

The downside prevails as long as 0.6194 is resistance.

Alternative scenario

The upside breakout of 0.6194, would call for 0.6215 and 0.6228.

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 0.6180 and 0.6175).

Supports and resistances

0.6228 **

0.6215 *

0.6194 **

0.6186

0.6175 last

0.6149

0.6137 **

0.6124 *

0.6112 **

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