NZD/USD | New Zealand Dollar to US Dollar Trading Analysis
NZD/USD continues to be traded around historical lows, although the asset has already shown some consolidation area. This could mean that the medium-term downtrend is over and most likely that traders are starting to accumulate buy positions.
NZD/USD, 30 min
Pivot - 0.5670
Analysis:
Provided that the currency pair is traded above 0.5610, follow the recommendations below:
The timeframe: 30 min
Recommendation: long position
Entry point: 0.5670
Take Profit 1: 0.5745
Take Profit 2: 0. 5805
Alternative scenario:
In case of breakdown of the level 0.5610, follow the recommendations below:
The timeframe: 30 min
Recommendation: short position
Entry point: 0.5610
Take Profit 1: 0.5545
Take Profit 2: 0.5465
Comment:
RSI indicates the possibility of an upward momentum.
Key levels:
Resistance
Support
0.5845
0.5610
0.5805
0.5545
0.5735
0.5465
NZD/USD, D1
Pivot: 0.5650
Analysis:
While the price is above 0.5580, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 0.5650
Take Profit 1: 0.5880
Take Profit 2: 0.6187
Alternative scenario:
If the level 0.5580 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 0.5580
Take Profit 1: 0.5520
Take Profit 2: 0.5455
Comment:
The trend has changed to an upward one, RSI shows the possibility of an upward momentum.
Key levels:
Resistance
Support
0.6350
0.5580
0.6187
0.5520
0.5880
0.5455
We also advise you to pay attention to the following currency pairs for intra-day trading:
EUR/USD – buy above 1.0710 with 1.0820 and 1.0840 as Take Profit targets. Alternative scenario - if the level of 1.0710 is broken-down, you should consider selling with the targets 1.0670 and 1.0630 as Take Profit. GBP/USD - long positions above 1.1545 with 1. 1780 and 1.1880 targets as Take Profit. Alternative scenario - if the level of 1.1545 is broken-down, sell with the targets 1.1460 and 1.1405 as Take Profit. USD/CHF - buy above 0.9760 with 0.9885 and 0.9930 targets as Take Profit. Alternative scenario - if the level 0.9760 is broken-down, sell with the TP 0.9710 and 0.9650.
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