Source: PaxForex Premium Analytics Portal, Technical Insight

The head of the Federal Reserve Bank of Atlanta, Bostick: we may see a more significant price rebalancing than expected:

• We will see how much inflation recovers;

• We hope that the 2% inflation rate in the U.S. will be reached faster.

NZD/USD, 30 min

Pivot: 0.7225

Analysis:

Provided that the currency pair is traded above 0.7200, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7225
• Take Profit 1: 0.7257
• Take Profit 2: 0.7272

Alternative scenario: 

In case of breakdown of the level 0.7200, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7200
• Take Profit 1: 0.7175
• Take Profit 2: 0.7160

Comment:

RSI is above 50. MACD is positive and below its signal line. The pair may pullback. Moreover, the pair is trading below its 20-period moving average (0.7225) but above its 50-period moving average (0.7198).

Key levels:

NZD/USD, D1

Pivot: 0.7181

Analysis:

While the price is above 0.7019, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7181
• Take Profit 1: 0.7403
• Take Profit 2: 0.7507

Alternative scenario:

If the level 0.7019 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7019
• Take Profit 1: 0.6846
• Take Profit 2: 0.6743

Comment:

RSI shows an uptrend in the medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD – buy above 1.2180 with 1.2265 and 1.2285 targets as Take Profit. Alternative scenario - if the level 1.2180 is broken-down, sell with the TP 1.2160 and 1.2135.
GBP/USD - long positions above 1.3635 with 1.3735 and 1.3770 targets as Take Profit. Alternative scenario - if the level of 1.3635 is broken-down, sell with the targets 1.3600 and 1.3570 as Take Profit.
AUD/USD – buy above 0.7730 with 0.7815 and 0.7830 as Take Profit targets. Alternative scenario - if the level of 0.7730 is broken-down, you should consider selling with the targets 0.7710 and 0.7690 as Take Profit.