Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD extends its downside below the mid-0.5900s, investors await the RBNZ rate decision.
NZD/USD,D1
Pivot: 0.5917
Analysis:
While the price is below 0.6000, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5917
- Take Profit 1: 0.5800
- Take Profit 2: 0.5700
Alternative scenario:
If level 0.6000 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6000
- Take Profit 1: 0.6050
- Take Profit 2: 0.6100
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6100 | 0.5800 |
| 0.6050 | 0.5700 |
| 0.6000 | 0.5600 |
