Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD pair, which rose to 0.6270 in Monday's session, has broken out of a sideways range that had been in place for the past seven sessions.
NZD/USD,D1
Pivot: 0.6262
Analysis:
While the price is above 0.6100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6262
- Take Profit 1: 0.6350
- Take Profit 2: 0.6450
Alternative scenario:
If level 0.6100 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6100
- Take Profit 1: 0.6000
- Take Profit 2: 0.5900
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6550 | 0.6100 |
| 0.6450 | 0.6000 |
| 0.6350 | 0.5900 |
