Source: PaxForex Premium Analytics Portal, Technical Insight
Analysts at CIBC Capital Markets write that the kiwi is consolidating after rising over the past month. The outlook for the kiwi remains positive, but the rate of growth will slow down.
NZD/USD, D1
Pivot: 0.7211
Analysis:
While the price is above 0.7140, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7211
- Take Profit 1: 0.7315
- Take Profit 2: 0.7385
Alternative scenario:
If the level 0.7140 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7140
- Take Profit 1: 0.7065
- Take Profit 2: 0.7000
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7465 | 0.7140 |
| 0.7385 | 0.7065 |
| 0.7315 | 0.7000 |
