Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD: consolidation is expected between 0.6875 and 0.7000 - UOB Group.
NZD/USD,D1
Pivot: 0.6934
Analysis:
While the price is below 0.7080, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6934
- Take Profit 1: 0.6900
- Take Profit 2: 0.6820
Alternative scenario:
If the level 0.7080 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7080
- Take Profit 1: 0.7170
- Take Profit 2: 0.7240
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7240 | 0.6900 |
| 0.7170 | 0.6820 |
| 0.7080 | 0.6750 |
