Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD prints mild gains around 0.6050 inside a bullish triangle formation portrayed at the yearly low. In doing so, the Kiwi pair justifies the RSI (14) line’s recovery from the oversold territory, as well as the bullish MACD signals, during early Tuesday
NZD/USD,D1
Pivot: 0.6027
Analysis:
While the price is below 0.6100, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6027
- Take Profit 1: 0.6000
- Take Profit 2: 0.5900
Alternative scenario:
If the level 0.6100 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6100
- Take Profit 1: 0.6150
- Take Profit 2: 0.6200
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6200 | 0.6000 |
| 0.6150 | 0.5900 |
| 0.6100 | 0.5800 |
