Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD marches towards 0.5880 hurdle with eyes on RBNZ’s Orr, NZ employment data
NZD/USD,D1
Pivot: 0.5865
Analysis:
While the price is above 0.5750, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.5865
- Take Profit 1: 0.6000
- Take Profit 2: 0.6160
Alternative scenario:
If the level 0.5750 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5750
- Take Profit 1: 0.5620
- Take Profit 2: 0.5500
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6250 | 0.5750 |
| 0.6160 | 0.5620 |
| 0.6000 | 0.5500 |
