Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD looks set to refresh its two-year low around 0.5920 as DXY rebounds ahead of Fed.
NZD/USD,D1
Pivot: 0.5925
Analysis:
While the price is below 0.6060, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5925
- Take Profit 1: 0.5900
- Take Profit 2: 0.5800
Alternative scenario:
If the level 0.6060 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6060
- Take Profit 1: 0.6160
- Take Profit 2: 0.6250
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6250 | 0.5900 |
| 0.6160 | 0.5800 |
| 0.6060 | 0.5700 |
