Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD has been chipping away at the downside in Asia, sliding to a fresh session low at the time of writing, down 0.35% on the day so far after dropping from a high of 0.6365. The US Dollar has been struggling to break higher which had been giving the commodity complex some room to breathe but the tables are turning.
NZD/USD,D1
Pivot: 0.6314
Analysis:
While the price is above 0.6130, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6314
- 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 |
