Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD started the week lower, but then gained back the lion's share of the points lost. The focus remains on the upcoming monetary policy meeting of the Central Bank of New Zealand, ANZ Bank analysts write.
NZD/USD,D1
Pivot: 0.6983
Analysis:
While the price is above 0.6820, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6983
- Take Profit 1: 0.7236
- Take Profit 2: 0.7349
Alternative scenario:
If the level 0.6820 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6820
- Take Profit 1: 0.6631
- Take Profit 2: 0.6518
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7463 | 0.6820 |
| 0.7349 | 0.6631 |
| 0.7236 | 0.6518 |
