Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD weakens below 0.6350 on US Dollar recovery, eyes on US PMI data.
NZD/USD,D1
Pivot: 0.6348
Analysis:
While the price is above 0.6200, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6348
- Take Profit 1: 0.6450
- Take Profit 2: 0.6550
Alternative scenario:
If level 0.6200 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6200
- Take Profit 1: 0.6100
- Take Profit 2: 0.6000
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6650 | 0.6200 |
| 0.6550 | 0.6100 |
| 0.6450 | 0.6000 |
