NZD/USD – Currency exchange rate forecast 23.08.2019: the downside prevails as long as 0.6396 is resistance

NZD/USD - Currency exchange rate forecast 23.08.2019: the downside prevails as long as 0.6396 is resistance

Alternative scenario: the upside breakout of 0.6396 would call for 0.6416 and 0.6428.

0.6396 is our pivot point.

Our preference: the downside prevails as long as 0.6396 is resistance.

Alternative scenario: the upside breakout of 0.6396, would call for 0.6416 and 0.6428.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 0.6386 and 0.6379).

Supports and resistances:

0.6428 **

0.6416 *

0.6396 **

0.6388

0.6378 last

0.6353

0.6341 **

0.6329 *

0.6318 **

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