Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD continued its 4th consecutive day of gains on Thursday and touched a high for the week at 0.7074.
NZD/USD,D1
Pivot: 0.6975
Analysis:
While the price is below 0.7161, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6975
- Take Profit 1: 0.6701
- Take Profit 2: 0.6571
Alternative scenario:
If the level 0.7161 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7161
- Take Profit 1: 0.7380
- Take Profit 2: 0.7510
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7510 | 0.6701 |
| 0.7380 | 0.6571 |
| 0.7161 | 0.6442 |
