Source: PaxForex Premium Analytics Portal, Technical Insight
The head of FRB San Francisco Daly: The Fed will ignore a temporary rise in inflation:
- The Fed's goals are unlikely to be met in 2021;
- The Fed expects a temporary rise in inflation this year, but will ignore it;
- Infrastructure investment spurs economic growth.
NZD/USD, 30 min
Pivot: 0.7025
Analysis:
Provided that the currency pair is traded above 0.6967, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7025
- Take Profit 1: 0.7092
- Take Profit 2: 0.7152
Alternative scenario:
In case of breakout of the level 0.6967, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.6967
- Take Profit 1: 0.6929
- Take Profit 2: 0.6886
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7200 | 0.6967 |
| 0.7152 | 0.6929 |
| 0.7092 | 0.6886 |
NZD/USD, D1
Pivot: 0.7055
Analysis:
While the price is below 0.7312, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7055
- Take Profit 1:0.6787
- Take Profit 2:0.6654
Alternative scenario:
In case of breakout of the level 0.7312, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7312
- Take Profit 1: 0.7538
- Take Profit 2: 0.7673
Comment:
RSI shows a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7673 | 0.6787 |
| 0.7538 | 0.6654 |
| 0.7312 | 0.6520 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD – sell below 1.1786 with 1.1720 and 1.1700 targets as Take Profit. Alternative scenario - if the level 1.1786 is broken-out, buy with the TP 1.1836 and 1.1855.
GBP/USD - short positions below 1.3848 with 1.3809 and 1.3785 targets as Take Profit. Alternative scenario - if the level of 1.3848 is broken-out, buy with the targets 1.3875 and 1.3896 as Take Profit.
AUD/USD – sell below 0.7628 with 0.7585 and 0.7570 as Take Profit targets. Alternative scenario - if the level of 0.7628 is broken-out, you should consider buying with the targets 0.7655 and 0.7675 as Take Profit.
