Source: PaxForex Premium Analytics Portal, Technical Insight

NZD/USD regains 0.6200 despite downbeat NZIER forecasts, Fed’s Powell eyed

NZD/USD,D1

Pivot: 0.6212

Analysis:

While the price is above 0.5960, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.6212
• Take Profit 1: 0.6350
• Take Profit 2: 0.6565

Alternative scenario:

If the level 0.5960 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.5960
• Take Profit 1: 0.5850
• Take Profit 2: 0.5630

Comment:

RSI shows the development of an uptrend in the medium term.

Key levels: