Source: PaxForex Premium Analytics Portal, Technical Insight

Ministry of Health of New Zealand confirmed a new case of infection with coronavirus of a new type, the press service of the agency. The new patient was a man on a flight from Pakistan who had made a connection in Melbourne, Australia. He is currently under quarantine.

AUD/NZD, 30 min

Pivot: 1.0662

Analysis:

Provided that the currency pair is traded below 1.0680, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.0662
• Take Profit 1: 1.0630
• Take Profit 2: 1.0610

Alternative scenario: 

In case of breakout of the level 1.0680, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.0680
• Take Profit 1: 1.0710
• Take Profit 2: 1.0720

Comment:

The RSI is below its neutral area at 50. The MACD is below its signal line and is negative. Configuration is negative. Moreover, the pair is below its 20 and 50 MA (by 1.0673 and 1.0672 respectively).

Key levels:

AUD/NZD, D1

Pivot: 1.0711

Analysis:

While the price is above 1.0540, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.08711
• Take Profit 1: 1.0940
• Take Profit 2: 1.1040

Alternative scenario:

If the level 1.0540 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0540
• Take Profit 1: 1.0360
• Take Profit 2: 1.0260

Comment:

RSI is above 50. MACD is below its signal line and positive. A couple can recover. Moreover, the pair is traded at 20 mA (1.0724), but above 50 mA (1.0661).

Key levels:

We also advise you to pay attention to the following currency pairs for intra-day trading:

AUD/USD – sell below 0.6890 with 0.6830 and 0.6795 as Take Profit targets. Alternative scenario - if the level of 0.6890 is broken-out, you should consider buying with the targets 0.6915 and 0.6935 as Take Profit.
GBP/USD - long positions above 1.2510 with 1.2590 and 1.2620 targets as Take Profit. Alternative scenario - if the level of 1.2510 is broken-down, sell with the targets 1.2485 and 1.2450 as Take Profit.
USD/CAD – buy above 1.3540 with 1.3595 and 1.3620 targets as Take Profit. Alternative scenario - if the level 1.3540 is broken-down, sell with the TP 1.3505 and 1.3480.