Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD pair has slipped below 0.6240 in the early European session. The Kiwi asset is expected to continue its downside movement as anxiety among investors is soaring ahead of the opening of the US markets after an extended weekend.
NZD/USD,D1
Pivot: 0.6218
Analysis:
While the price is above 0.6130, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6218
- Take Profit 1: 0.6360
- Take Profit 2: 0.6520
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: 0.6000
- Take Profit 2: 0.5850
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6700 | 0.6130 |
| 0.6520 | 0.6000 |
| 0.6360 | 0.5850 |
