NZD/USD | New Zealand Dollar to US Dollar Trading Analysis
The second patient with the detected disease of coronavirus infection died in New Zealand, according to the press service of the Ministry of Health. Also, over the past day in New Zealand, 23 cases of infection with coronavirus of a new type were identified, while another 21 cases were previously confirmed. The total number of detected cases of COVID-19 in the country has reached 1283.
NZD/USD, 30 min
Pivot: 0.6082
Analysis:
Provided that the currency pair is traded above 0.6037, follow the recommendations below:
The timeframe: 30 min
Recommendation: long position
Entry point: 0.6082
Take Profit 1: 0.6148
Take Profit 2: 0.6180
Alternative scenario:
In case of breakdown of the level 0.6037, follow the recommendations below:
The timeframe: 30 min
Recommendation: short position
Entry point: 0.6205
Take Profit 1: 0.5983
Take Profit 2: 0.5981
Comment:
RSI is above its neutral area by 50. The MACD is positive and is below its signal line. The pair can recover. Moreover, the pair trades above its 20 and 50 moving averages (by 0.6076 and 0.6050 respectively).
Key levels:
Resistance
Support
0.6212
0.6037
0.6180
0.5983
0.6148
0.5951
NZD/USD, D1
Pivot: 0.6080
Analysis:
While the price is above 0.5684, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 0.6080
Take Profit 1: 0.6454
Take Profit 2: 0.6673
Alternative scenario:
If the level 0.5648 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 0.5648
Take Profit 1: 0.5285
Take Profit 2: 0.5069
Comment:
RSI is below its neutral area at 50. The MACD is above its signal line and is negative. The configuration is mixed. Moreover, the pair is traded above 20 MA (0.5917) but below 50 MA (0.6194).
Key levels:
Resistance
Support
0.6892
0.5648
0.6673
0.5285
0.6454
0.5069
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