NZD/USD may fall 26 - 38 pips

0.6156 is our pivot point.

Our preference

Technical rebound towards 0.6156 before a new drop.

Alternative scenario

Above 0.6156, look for 0.6177 and 0.6190.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (0.6136) but under its 50 period moving average (0.6141).

Supports and resistances

0.6190 **

0.6177 *

0.6156 **

0.6148

0.6140 last

0.6114

0.6102 **

0.6090 *

0.6077 **

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