Source: PaxForex Premium Analytics Portal, Technical Insight
The New Zealand Dollar would continue to perform better against the US Dollar as the Reserve Bank of New Zealand (RBNZ) is expected to keep interest rates high for a longer period.
NZD/USD,D1
Pivot: 0.6321
Analysis:
While the price is above 0.6200, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6321
- Take Profit 1: 0.6350
- Take Profit 2: 0.6450
Alternative scenario:
If level 0.6200 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6200
- Take Profit 1: 0.6100
- Take Profit 2: 0.6000
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6550 | 0.6200 |
| 0.6450 | 0.6100 |
| 0.6350 | 0.6000 |
