Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD is down from multi-day highs but is trading around 0.6970-75.
NZD/USD,D1
Pivot: 0.6977
Analysis:
While the price is below 0.7120, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6977
- Take Profit 1: 0.6800
- Take Profit 2: 0.6680
Alternative scenario:
If the level 0.7120 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7120
- Take Profit 1: 0.7240
- Take Profit 2: 0.7315
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7315 | 0.6800 |
| 0.7240 | 0.6680 |
| 0.7120 | 0.6600 |
