Source: PaxForex Premium Analytics Portal, Technical Insight

Reuters reports comments from the head of the Federal Reserve Bank of Dallas, Kaplan:

• The risks to my U.S. GDP forecast of 5% for 2021 are upside;
• Even without the problems of the energy system, Texas would have a gas and oil supply and water supply crisis;
• The gas and oil problem will be solved in the coming days;
• The water supply problem in Texas could drag on for weeks;
• Attitudes need to change to return to pre-crisis oil production levels of 13 million barrels.

NZD/USD, 30 min

Pivot: 0.7315

Analysis:

Provided that the currency pair is traded below 0.7341, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7315
• Take Profit 1: 0.7280
• Take Profit 2: 0.7264

Alternative scenario: 

In case of breakout of the level 0.7341, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7341
• Take Profit 1: 0.7368
• Take Profit 2: 0.7384

Comment:

RSI is below 50. MACD is negative and below its signal line. The configuration is negative. Moreover, price is trading below the 20 and 50-period moving average (0.7325 and 0.7318, respectively).

Key levels:

NZD/USD, D1

Pivot: 0.7318

Analysis:

While the price is above 0.7065, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7318
• Take Profit 1: 0.7492
• Take Profit 2: 0.7611

Alternative scenario:

If the level 0.7065 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7065
• Take Profit 1: 0.6867
• Take Profit 2: 0.6749

Comment:

RSI shows an uptrend in the medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD – buy above 1.2135 with 1.2190 and 1.2215 targets as Take Profit. Alternative scenario - if the level 1.2135 is broken-down, sell with the TP 1.2110 and 1.2090.
GBP/USD - long positions above 1.4040 with 1.4100 and 1.4120 targets as Take Profit. Alternative scenario - if the level of 1.4040 is broken-down, sell with the targets 1.4015 and 1.3980 as Take Profit.
AUD/USD – buy above 0.7890 with 0.7940 and 0.7960 as Take Profit targets. Alternative scenario - if the level of 0.7890 is broken-down, you should consider selling with the targets 0.7870 and 0.7850 as Take Profit.