Source: PaxForex Premium Analytics Portal, Technical Insight
Responding to concerns from the International Monetary Fund (IMF), New Zealand Finance Minister Grant Robertson said the government will address the issue of inflated house prices in the coming weeks and discussions about the 2021 budget later this year. However, Robertson refrained from mentioning possible steps to be taken to solve the problem.
NZD/USD, 30 min
Pivot: 0.7196
Analysis:
Provided that the currency pair is traded below 0.7225, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7196
- Take Profit 1: 0.7154
- Take Profit 2: 0.7135
Alternative scenario:
In case of breakout of the level 0.7225, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7225
- Take Profit 1: 0.7257
- Take Profit 2: 0.7276
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7276 | 0.7154 |
| 0.7257 | 0.7135 |
| 0.7225 | 0.7116 |
NZD/USD, D1
Pivot: 0.7178
Analysis:
While the price is below 0.7310, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7178
- Take Profit 1: 0.7090
- Take Profit 2: 0.7000
Alternative scenario:
In case of breakout of the level 0.7310, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7310
- Take Profit 1: 0.7450
- Take Profit 2: 0.7550
Comment:
RSI shows a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7550 | 0.7090 |
| 0.7450 | 0.7000 |
| 0.7310 | 0.6900 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD – buy above 1.1915 with 1.1955 and 1.1970 targets as Take Profit. Alternative scenario - if the level 1.1915 is broken-down, sell with the TP 1.1900 and 1.1885.
GBP/USD - short positions below 1.3905 with 1.3830 and 1.3810 targets as Take Profit. Alternative scenario - if the level of 1.3905 is broken-out, buy with the targets 1.3930 and 1.3950 as Take Profit.
AUD/USD – buy above 0.7735 with 0.7785 and 0.7800 as Take Profit targets. Alternative scenario - if the level of 0.7735 is broken-down, you should consider selling with the targets 0.7720 and 0.7700 as Take Profit.
