Source: PaxForex Premium Analytics Portal, Technical Insight
The New Zealand Dollar (NZD) advances in the North American session, even though Fed speaking bolstered the US Dollar (USD), a late intervention of the Federal Reserve (Fed) Vice Chair Brainard turned sentiment positive. Therefore, the NZDUSD is trading at 0.6113, above its opening price by 0.49%.
NZD/USD,D1
Pivot: 0.6153
Analysis:
While the price is above 0.5960, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6153
- Take Profit 1: 0.6350
- Take Profit 2: 0.6565
Alternative scenario:
If the level 0.5960 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5960
- Take Profit 1: 0.5850
- Take Profit 2: 0.5630
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6600 | 0.5960 |
| 0.6565 | 0.5850 |
| 0.6350 | 0.5630 |
