Source: PaxForex Premium Analytics Portal, Technical Insight

According to Finance Minister Robertson, the authorities are studying the issue of transferring responsibility for the stability of real estate prices to RBNZ. If this scenario is implemented, the regulator will have to take this factor into account when determining the course of its monetary policy

NZD/USD, 30 min

Pivot: 0.6968

Analysis:

Provided that the currency pair is traded above 0.6938, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.6938
• Take Profit 1: 0.7009
• Take Profit 2: 0.7027

Alternative scenario: 

In case of breakdown of the level 0.6938, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.6938
• Take Profit 1: 0.6907
• Take Profit 2: 0.6889

Comment:

RSI is above its neutral area at 50. MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MA (0.6941 and 0.6942 respectively).

Key levels:

NZD/USD, D1

Pivot: 0.6930

Analysis:

While the price is above 0.6715, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.6930
• Take Profit 1: 0.7000
• Take Profit 2: 0.7170

Alternative scenario:

If the level 0.6715 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.6715
• Take Profit 1: 0.6590
• Take Profit 2: 0.6500

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 – sell below 1.1865 with 1.1810 and 1.1800 targets as Take Profit. Alternative scenario - if the level 1.1865 is broken-out, buy with the TP 1.1885 and 1.1905.
GBP/USD - short positions below 1.3350 with 1.3290 and 1.3260 targets as Take Profit. Alternative scenario - if the level of 1.3350 is broken-out, buy with the targets 1.3370 and 1.3395 as Take Profit.
AUD/USD – buy above 0.7290 with 0.7350 and 0.7365 as Take Profit targets. Alternative scenario - if the level of 0.7290 is broken-down, you should consider selling with the targets 0.7265 and 0.7250 as Take Profit.