Source: PaxForex Premium Analytics Portal, Technical Insight
New Zealand GDP beat all forecasts: +1.6% q/q vs forecast of +0.5%.
NZD/USD,D1
Pivot: 0.7140
Analysis:
While the price is below 0.7328, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7140
- Take Profit 1: 0.6877
- Take Profit 2: 0.6751
Alternative scenario:
If the level 0.7328 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7328
- Take Profit 1: 0.7540
- Take Profit 2: 0.7667
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7667 | 0.6877 |
| 0.7540 | 0.6751 |
| 0.7328 | 0.6625 |
