Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD struggles near YTD low, not out of the wood yet amid sustained USD buying.
NZD/USD,D1
Pivot: 0.5945
Analysis:
While the price is below 0.6050, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5945
- Take Profit 1: 0.5900
- Take Profit 2: 0.5800
Alternative scenario:
If level 0.6050 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6050
- Take Profit 1: 0.6150
- Take Profit 2: 0.6250
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6250 | 0.5900 |
| 0.6150 | 0.5800 |
| 0.6050 | 0.5700 |
