Source: PaxForex Premium Analytics Portal, Technical Insight
UOB Group currency strategists noted that the potential move to 0.7025 in NZD/USD seems to be losing momentum.
NZD/USD,D1
Pivot: 0.6906
Analysis:
While the price is above 0.6745, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6906
- Take Profit 1: 0.6990
- Take Profit 2: 0.7050
Alternative scenario:
If the level 0.6745 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6745
- Take Profit 1: 0.6620
- Take Profit 2: 0.6530
Comment:
RSI shows the development of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7090 | 0.6745 |
| 0.6920 | 0.6620 |
| 0.6920 | 0.6530 |
