Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD looks to approach 0.6050 due to weaker US Dollar.
NZD/USD,D1
Pivot: 0.6022
Analysis:
While the price is above 0.5900, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6022
- Take Profit 1: 0.6050
- Take Profit 2: 0.6150
Alternative scenario:
If level 0.5900 is broken-down, follow the recommendations below
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5900
- Take Profit 1: 0.5800
- Take Profit 2: 0.5700
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6200 | 0.5900 |
| 0.6150 | 0.5800 |
| 0.6050 | 0.5700 |
