Source: PaxForex Premium Analytics Portal, Technical Insight
New Zealand intends to strike free trade deals with Britain and the EU this year in an effort to diversify its export markets amid growing tensions with China, the trade minister said.
NZD/USD,D1
Pivot: 0.6947
Analysis:
While the price is below 0.7160, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6947
- Take Profit 1: 0.6800
- Take Profit 2: 0.6680
Alternative scenario:
If the level 0.7160 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7160
- Take Profit 1: 0.7240
- Take Profit 2: 0.7315
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7315 | 0.6800 |
| 0.7240 | 0.6680 |
| 0.7160 | 0.6585 |
