Source: PaxForex Premium Analytics Portal, Technical Insight
NZDUSD is plotting highs for the week in Asia, extending on the start of the week's rally in a risk-on environment. The high beta currencies have been finding demand due to signs of some easing of market conditions.
NZD/USD,D1
Pivot: 0.5914
Analysis:
While the price is above 0.5750, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.5914
- Take Profit 1: 0.6050
- Take Profit 2: 0.6200
Alternative scenario:
If the level 0.5750 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5750
- Take Profit 1: 0.5600
- Take Profit 2: 0.5470
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6250 | 0.5750 |
| 0.6200 | 0.5600 |
| 0.6050 | 0.5470 |
