Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD pair comes under some selling pressure on the first day of a new week and moves further away from a nearly three-month high - levels just above the 0.6200 mark touched on Friday. The pair remains depressed through the early part of the European session and is currently flirting with the daily low, around the 0.6120 region.
NZD/USD,D1
Pivot: 0.6117
Analysis:
While the price is above 0.5960, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6117
- Take Profit 1: 0.6350
- Take Profit 2: 0.6565
Alternative scenario:
If the level 0.5960 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5960
- 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 |
| 0.6600 | 0.5960 |
| 0.6565 | 0.5850 |
| 0.6350 | 0.5630 |
