Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD broke out of its daily trading range at the start of the U.S. session. The dollar index fell before Wall Street opened. Jobless claims data showed higher than expected.
NZD/USD, 30 min
Pivot: 0.7246
Analysis:
Provided that the currency pair is traded below 0.7241, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7246
- Take Profit 1: 0.7179
- Take Profit 2: 0.7162
Alternative scenario:
In case of breakout of the level 0.7241, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7241
- Take Profit 1: 0.7270
- Take Profit 2: 0.7287
Comment:
RSI is below 50. MACD is negative and below its signal line. The configuration is negative. Moreover, the price is below the 20 and 50 moving averages (0.7223 and 0.7227 respectively).
Key levels:
| Resistance | Support |
| 0.7287 | 0.7179 |
| 0.7270 | 0.7162 |
| 0.7241 | 0.7145 |
NZD/USD, D1
Pivot: 0.7246
Analysis:
While the price is above 0.7065, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7246
- Take Profit 1: 0.7492
- Take Profit 2: 0.7611
Alternative scenario:
If the level 0.7065 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7065
- Take Profit 1: 0.6867
- Take Profit 2: 0.6749
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7729 | 0.7065 |
| 0.7611 | 0.6867 |
| 0.7492 | 0.6749 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD – sell below 1.2150 with 1.2090 and 1.2070 targets as Take Profit. Alternative scenario - if the level 1.2150 is broken-out, buy with the TP 1.2165 and 1.2180.
GBP/USD - short positions below 1.3820 with 1.3730 and 1.3700 targets as Take Profit. Alternative scenario - if the level of 1.3820 is broken-out, buy with the targets 1.3840 and 1.3860 as Take Profit.
AUD/USD – sell below 0.7755 with 0.7710 and 0.7695 as Take Profit targets. Alternative scenario - if the level of 0.7755 is broken-out, you should consider buying with the targets 0.7770 and 0.7785 as Take Profit.
