Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD continues to fall to a new daily low at 0.7200.
NZD/USD,D1
Pivot: 0.7211
Analysis:
While the price is below 0.7412, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7207
- Take Profit 1: 0.6931
- Take Profit 2: 0.6796
Alternative scenario:
If the level 0.7412 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7412
- Take Profit 1: 0.7639
- Take Profit 2: 0.7775
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7775 | 0.6931 |
| 0.7639 | 0.6796 |
| 0.7412 | 0.6661 |
