Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD pair made a high above 0.6300 due to the weakening U.S. dollar.
NZD/USD,D1
Pivot: 0.6276
Analysis:
While the price is below 0.6205, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6276
- Take Profit 1: 0.6400
- Take Profit 2: 0.6550
Alternative scenario:
If the level 0.6205 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6205
- Take Profit 1: 0.6125
- Take Profit 2: 0.6050
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6600 | 0.6205 |
| 0.6550 | 0.6125 |
| 0.6400 | 0.6050 |
