Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. dollar traded fairly steady Thursday, even despite the biggest jump in inflation since August 2008.

NZD/USD,D1

Pivot: 0.7207

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: