NZD/USD | New Zealand Dollar to US Dollar Trading Analysis
The NZD/USD currency pair is being traded at 0.5975. The pair is traded inside the Ishimoku Cloud, which implies a sideways trend. The upper bound of the Indicator Cloud is expected to be tested near 0.6055, then it will fall to the level of 0.5755. The signal in favor of the quotes decrease will be the rebound from the lower boundary of the upward channel.
NZD/USD, 30 min
Pivot: 0.5999
Analysis:
Provided that the currency pair is traded below 0.6042, follow the recommendations below:
Time frame: 30 min
Recommendation: short position
Entry point: 0.5999
Take Profit 1: 0.5923
Take Profit 2: 0.5892
Alternative scenario:
In case of breakout of the level 0.6042, follow the recommendations below:
Time frame: 30 min
Recommendation: long position
Entry point: 0.6042
Take Profit 1: 0.6096
Take Profit 2: 0.6128
Comment:
RSI is below 50. MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is below its 20 and 50 MA (0.6029 and 0.6043 respectively).
Key levels:
Resistance
Support
0.6128
0.5923
0.6096
0.5892
0.6042
0.5860
NZD/USD, D1
Pivot: 0.6022
Analysis:
While the price is above 0.5960, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 0.6022
Take Profit 1: 0.6200
Take Profit 2: 0.6350
Alternative scenario:
If the level 0.5960 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 0.5960
Take Profit 1: 0.5845
Take Profit 2: 0.5700
Comment:
The support base 0.5960 was formed, which allowed the asset to stabilize temporarily.
Key levels:
Resistance
Support
0.6500
0.5960
0.6350
0.5845
0.6200
0.5700
We also advise you to pay attention to the following currency pairs for intra-day trading:
EUR/USD – sell below 1.0860 with 1.0810 and 1.0790 as Take Profit targets. Alternative scenario - if the level of 1.0860 is broken-out, you should consider buying with the targets 1.0880 and 1.0900 as Take Profit. GBP/USD - short positions below 1.2445 with 1.2380 and 1.2340 targets as Take Profit. Alternative scenario - if the level of 1.2445 is broken-out, buy with the targets 0.6385 and 0.6400 as Take Profit. USD/CAD - buy above 1.4110 with 1.4185 and 1.4220 targets as Take Profit. Alternative scenario - if the level 1. 4110 is broken-down, sell with the TP 1.4085 and 1.4050.
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