Source: PaxForex Premium Analytics Portal, Technical Insight

The NZD/USD is trading at 0.6420 and keeps moving within the growth and upward channel. The pair is traded above the upper boundary of the Ichimoku Kinko Hyo Indicator Cloud. This indicates that there is a bullish trend for the pair.

NZD/USD, 30 min

Pivot: 0.6419

Analysis:

Provided that the currency pair is traded above 0.6387 follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.6419
• Take Profit 1: 0.6484
• Take Profit 2: 0.6176

Alternative scenario: 

In case of breakdown of the level 0.6387 follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.6387
• Take Profit 1: 0.6350
• Take Profit 2: 0.6329

Comment:

RSI is above its neutral area by 50. The MACD is positive and below its signal line. The pair can recover. Moreover, the pair is below 20 mA (0.6422) but above 50 mA (0.6414).

Key levels:

NZD/USD, D1

Pivot: 0.6266

Analysis:

While the price is above 0.6068, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.6266
• Take Profit 1: 0.6601
• Take Profit 2: 0.6748

Alternative scenario:

If the level 0. 6068 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.6068
• Take Profit 1: 0.5823
• Take Profit 2: 0.5677

Comment:

RSI is above 50. MACD is positive and above the signal line. The configuration is positive. Moreover, the pair trades above its 20 and 50 moving averages (by 0.6112 and 0.6048 respectively).

Key levels:

We also advise you to pay attention to the following currency pairs for intra-day trading:

AUD/USD – sell below 0.6945 with 0.6850 and 0.6800 as Take Profit targets. Alternative scenario - if the level of 0.6945 is broken-out, you should consider buying with the targets 0.6985 and 0.7030 as Take Profit.
USD/CAD - long positions above 1.3480 with 1.3530 and 1.3565 targets as Take Profit. Alternative scenario - if the level of 1.3480 is broken-down, sell with the targets 1.3445 and 1.3415 as Take Profit.
EUR/USD – sell below 1.1245 with 1.2000 and 1.1180 as Take Profit targets. Alternative scenario - if the level 1.1245 is broken-out, you should consider buying with the targets 1.1260 and 1.1280 as Take Profit.