NZD/USD | New Zealand Dollar to US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

NZD/USD trims losses below 0.5900, investors await Fed rate decision.

NZD/USD,D1

Pivot: 0.5890

Analysis:

While the price is above 0.6000, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.5890
• Take Profit 1: 0.5800
• Take Profit 2: 0.5700

Alternative scenario:

If level 0.6000 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.6000
• Take Profit 1: 0.6150
• Take Profit 2: 0.6250

Comment:

RSI shows the development of a downtrend in the medium term.

Key levels: