Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD treads waters to continue winning streak, trades above 0.5900, focus on US data.
NZD/USD,D1
Pivot: 0.5919
Analysis:
While the price is below 0.6120, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5919
- Take Profit 1: 0.5900
- Take Profit 2: 0.5800
Alternative scenario:
If level 0.6120 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6120
- Take Profit 1: 0.6250
- Take Profit 2: 0.6340
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6400 | 0.5900 |
| 0.6340 | 0.5800 |
| 0.6250 | 0.5700 |
