Source: PaxForex Premium Analytics Portal, Technical Insight
A new day and fresh prospects for NZD/USD. The pair travelled in three levels of rising on Monday and has extended the rally in Asia on the back of the CPI data, falling within touching distance of Friday's highs around 0.5680.
NZD/USD,D1
Pivot: 0.5629
Analysis:
While the price is below 0.5850, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5629
- Take Profit 1: 0.5500
- Take Profit 2: 0.5400
Alternative scenario:
If the level 0.5850 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.5850
- Take Profit 1: 0.6000
- Take Profit 2: 0.6160
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6250 | 0.5500 |
| 0.6160 | 0.5400 |
| 0.5850 | 0.5300 |
