Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD ended the week higher, with the U.S. dollar under pressure. Markets are watching the Fed's dovish stance, which the Bank showed despite job growth in the U.S. ANZ Bank economists expect the kiwi will not be able to extend gains while the economy is in a stalemate.
NZD/USD,D1
Pivot: 0.7159
Analysis:
While the price is above 0.7000, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7159
- Take Profit 1: 0.7240
- Take Profit 2: 0.7320
Alternative scenario:
If the level 0.7000 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7000
- Take Profit 1: 0.6920
- Take Profit 2: 0.6855
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7400 | 0.7000 |
| 0.7320 | 0.6920 |
| 0.7240 | 0.6855 |
