Source: PaxForex Premium Analytics Portal, Technical Insight
In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, extra gains in NZD/USD appear on the cards in the near term.
NZD/USD,D1
Pivot: 0.6385
Analysis:
While the price is above 0.6130, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6365
- Take Profit 1: 0.6565
- Take Profit 2: 0.6800
Alternative scenario:
If the level 0.6130 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6130
- 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 |
| 0.6950 | 0.6130 |
| 0.6800 | 0.5850 |
| 0.6565 | 0.5630 |
