Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD eyes more downside to near 0.6130 as risk-on impulse retreats, US PMI in focus.
NZD/USD,D1
Pivot: 0.6140
Analysis:
While the price is below 0.6180, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6140
- Take Profit 1: 0.6000
- Take Profit 2: 0.5850
Alternative scenario:
If the level 0.6180 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6180
- Take Profit 1: 0.6290
- Take Profit 2: 0.6385
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6385 | 0.6000 |
| 0.6290 | 0.5850 |
| 0.6180 | 0.5700 |
