Source: PaxForex Premium Analytics Portal, Technical Insight

As the head of the Central Bank of New Zealand, Adrian Orr, stated in an interview with Bloomberg TV:

• He is satisfied with the current monetary policy of the Bank, in particular with FLP and QE programs;

• Believes in the effectiveness of the "financing for credit" program;

• Purchases of foreign assets "are not a preferred option";

• Assumptions about further economic growth are highly questionable;

• The new coronavirus attack is a reminder of the risks ahead.

NZD/USD, 30 min

Pivot: 0.6822

Analysis:

Provided that the currency pair is traded below 0.6846, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.6622
• Take Profit 1: 0.6782
• Take Profit 2: 0.6767

Alternative scenario: 

In case of breakout of the level 0.6846, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.6846
• Take Profit 1: 0.6872
• Take Profit 2: 0.6888

Comment:

RSI is below its neutral area at 50. MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is below its 20 and 50 moving averages (0.6831 and 0.6853 respectively).

Key levels:

NZD/USD, D1

Pivot: 0.6838

Analysis:

While the price is above 0.6670, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.6838
• Take Profit 1: 0.7054
• Take Profit 2: 0.7161

Alternative scenario:

If the level 0.6670 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.6670
• Take Profit 1: 0.6492
• Take Profit 2: 0.6385

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 1.1785 with 1.1840 and 1.1860 targets as Take Profit. Alternative scenario - if the level 1.1785 is broken-down, sell with the TP 1.1760 and 1.1745.
GBP/USD - short positions below 1.3150 with 1.3090 and 1.3065 targets as Take Profit. Alternative scenario - if the level of 1.3150 is broken-out, buy with the targets 1.3190  and 1.3225 as Take Profit.
AUD/USD – sell below 0.7255 with 0.7200 and 0.7170 as Take Profit targets. Alternative scenario - if the level of 0.7255 is broken-out, you should consider buying with the targets 0.7280 and 0.7295 as Take Profit.