Source: PaxForex Premium Analytics Portal, Technical Insight
Sources report that the number of opponents of Powell's nomination for a second term as head of the Fed is growing. It looks like it will come down to a fight for the post between Powell or Brainard.
NZD/USD,D1
Pivot: 0.7003
Analysis:
While the price is above 0.6829, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7003
- Take Profit 1: 0.7203
- Take Profit 2: 0.7307
Alternative scenario:
If the level 0.6829 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6829
- Take Profit 1: 0.6655
- Take Profit 2: 0.6552
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7410 | 0.6829 |
| 0.7307 | 0.6655 |
| 0.7203 | 0.6552 |
