Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD softens below 0.6000 as RBNZ says economic downturn could get worse.
NZD/USD,D1
Pivot: 0.5981
Analysis:
While the price is above 0.6200, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5981
- Take Profit 1: 0.5900
- Take Profit 2: 0.5800
Alternative scenario:
If level 0.6200 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6200
- Take Profit 1: 0.6300
- Take Profit 2: 0.6400
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6400 | 0.5900 |
| 0.6300 | 0.5800 |
| 0.6200 | 0.5700 |
