Source: PaxForex Premium Analytics Portal, Technical Insight

NZD/USD faces barricades around 0.6350 as risk-on impulse retreats, USD Index recovers.

NZD/USD,D1

Pivot: 0.6307

Analysis:

While the price is above 0.6130, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.6307
• Take Profit 1: 0.6565
• Take Profit 2: 0.6800

Alternative scenario:

If the level 0.6130 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.6130
• Take Profit 1: 0.5850
• Take Profit 2: 0.5630

Comment:

RSI shows the development of an uptrend in the medium term.

Key levels: