Source: PaxForex Premium Analytics Portal, Technical Insight
In Wednesday's trading the pair NZD/USD continues to remain in the accumulation phase.
NZD/USD,D1
Pivot: 0.6972
Analysis:
While the price is below 0.7095, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6972
- Take Profit 1: 0.6880
- Take Profit 2: 0.6800
Alternative scenario:
If the level 0.7095 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7095
- Take Profit 1: 0.7210
- Take Profit 2: 0.7315
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7315 | 0.6880 |
| 0.7210 | 0.6800 |
| 0.7095 | 0.6700 |
