Source: PaxForex Premium Analytics Portal, Technical Insight
According to Reuters, the president of the Dallas Federal Reserve Bank, R. Kaplan, said that he was concerned about excessive risk-taking by participants in the non-banking financial system. He added that these processes need more transparency. Kaplan also noted:
- If the global economy grows more slowly, the U.S. economy will also grow more slowly than it could;
- Vaccination is a major driver of economic development around the world.
NZD/USD, 30 min
Pivot: 0.7179
Analysis:
Provided that the currency pair is traded below 0.7206, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7179
- Take Profit 1: 0.7139
- Take Profit 2: 0.7121
Alternative scenario:
In case of breakout of the level 0.7206, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7206
- Take Profit 1: 0.7236
- Take Profit 2: 0.7254
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
Resistance | Support |
0.7254 | 0.7139 |
0.7236 | 0.7121 |
0.7206 | 0.7103 |
NZD/USD, D1
Pivot: 0.7166
Analysis:
While the price is above 0.7065, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7166
- Take Profit 1: 0.7300
- Take Profit 2: 0.7455
Alternative scenario:
In case of breakdown of the level 0.7065, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7065
- Take Profit 1: 0.6940
- Take Profit 2: 0.6800
Comment:
RSI shows an uptrend in the medium term.
Key levels:
Resistance | Support |
0.7600 | 0.7065 |
0.7455 | 0.6940 |
0.7300 | 0.6800 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD – sell below 1.2060 with 1.2015 and 1.2000 targets as Take Profit. Alternative scenario - if the level 1.2060 is broken-out, buy with the TP 1.2075 and 1.2090.
GBP/USD - short positions below 1.3910 with 1.3835 and 1.3805 targets as Take Profit. Alternative scenario - if the level of 1.3910 is broken-out, buy with the targets 1.3935 and 1.3960 as Take Profit.
AUD/USD – sell below 0.7755 with 0.7710 and 0.7695 as Take Profit targets. Alternative scenario - if the level of 0.7755 is broken-out, you should consider buying with the targets 0.7770 and 0.7785 as Take Profit.