Source: PaxForex Premium Analytics Portal, Technical Insight

The NZD/USD pair surpassed the psychological resistance of 0.6500 in the early European session. The kiwi asset has picked strength as the US Dollar Index (DXY) has witnessed immense pressure after failing to recapture Monday’s high at 101.87. The USD Index has refreshed its day’s low at 101.47, portraying a risk appetite theme in the market.

NZD/USD,D1

Pivot: 0.6385

Analysis:

While the price is above 0.6130, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.6513
• 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: