Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD retraces recent losses, hovers around 0.6100 psychological level.
NZD/USD,D1
Pivot: 0.6087
Analysis:
While the price is above 0.5970, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6087
- Take Profit 1: 0.6150
- Take Profit 2: 0.6250
Alternative scenario:
If level 0.5970 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5970
- Take Profit 1: 0.5860
- Take Profit 2: 0.5770
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6350 | 0.5970 |
| 0.6250 | 0.5860 |
| 0.6150 | 0.5770 |
