Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD keeps the red below 0.6100 on stronger USD, and reacts little to Chinese trade data.
NZD/USD,D1
Pivot: 0.6069
Analysis:
While the price is above 0.6120, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6069
- Take Profit 1: 0.6050
- Take Profit 2: 0.6000
Alternative scenario:
If level 0.6120 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6120
- Take Profit 1: 0.6250
- Take Profit 2: 0.6340
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6400 | 0.6120 |
| 0.6340 | 0.6050 |
| 0.6250 | 0.6000 |
