Source: PaxForex Premium Analytics Portal, Technical Insight
According to the ANZ's analytics, we should see the NZD strengthening against the US dollar later this year as the US dollar weakens, given high commodity prices and higher interest rates.
NZD/USD,D1
Pivot: 0.6426
Analysis:
While the price is below 0.6730, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6426
- Take Profit 1: 0.6350
- Take Profit 2: 0.6250
Alternative scenario:
If the level 0.6730 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6730
- Take Profit 1: 0.6875
- Take Profit 2: 0.6990
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6990 | 0.6350 |
| 0.6875 | 0.6250 |
| 0.6730 | 0.6200 |
