Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD bulls approach the 50-SMA hurdle, after crossing the falling wedge’s resistance line, during Tuesday’s Asian session. In doing so, the Kiwi pair prints the biggest daily gains in over a week during the three-day uptrend, up 0.38% intraday near 0.6115 by the press time.
NZD/USD,D1
Pivot: 0.6086
Analysis:
While the price is below 0.6205, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6086
- Take Profit 1: 0.6050
- Take Profit 2: 0.5950
Alternative scenario:
If the level 0.6205 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6205
- Take Profit 1: 0.6330
- Take Profit 2: 0.6400
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6400 | 0.6050 |
| 0.6330 | 0.5950 |
| 0.6205 | 0.5900 |
