Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD pair rose sharply on Monday, while jumping 0.6% to 0.6160 after attracting buyers early in the session at the 200DMA just above 0.6900.
NZD/USD,D1
Pivot: 0.6982
Analysis:
While the price is above 0.6745, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6982
- Take Profit 1: 0.7050
- Take Profit 2: 0.7150
Alternative scenario:
If the level 0.6745 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6745
- Take Profit 1: 0.6620
- Take Profit 2: 0.6530
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7250 | 0.6745 |
| 0.7150 | 0.6620 |
| 0.7050 | 0.6530 |
