Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD now points to some consolidation – UOB.
NZD/USD,D1
Pivot: 0.5714
Analysis:
While the price is below 0.5850, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5714
- Take Profit 1: 0.5600
- Take Profit 2: 0.5500
Alternative scenario:
If the level 0.5850 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.5850
- Take Profit 1: 0.6000
- Take Profit 2: 0.6160
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6250 | 0.5600 |
| 0.6160 | 0.5500 |
| 0.5850 | 0.5400 |
