Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD clings to mild gains below 0.6100 on upbeat NZ data, softer US Dollar.
NZD/USD,D1
Pivot: 0.6087
Analysis:
While the price is below 0.6100, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6087
- Take Profit 1: 0.6000
- Take Profit 2: 0.5900
Alternative scenario:
If the level 0.6100 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6100
- Take Profit 1: 0.6150
- Take Profit 2: 0.6200
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6200 | 0.6000 |
| 0.6150 | 0.5900 |
| 0.6100 | 0.5800 |
