Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD made new multi-week lows below the 0.6400 level after the U.S. consumer price inflation report for May pushed the U.S. dollar up.
NZD/USD,D1
Pivot: 0.6284
Analysis:
While the price is below 0.6425, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6284
- Take Profit 1: 0.6175
- Take Profit 2: 0.6050
Alternative scenario:
If the level 0.6425 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6425
- Take Profit 1: 0.6565
- Take Profit 2: 0.6670
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6670 | 0.6175 |
| 0.6565 | 0.6050 |
| 0.6425 | 0.5950 |
