Source: PaxForex Premium Analytics Portal, Technical Insight
The NZD/USD is consolidating near 0.7000 on Monday holding on to gains made on Friday.
NZD/USD,D1
Pivot: 0.7000
Analysis:
While the price is below 0.7035, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7000
- Take Profit 1: 0.6900
- Take Profit 2: 0.6800
Alternative scenario:
If the level 0.7035 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7035
- Take Profit 1: 0.7140
- Take Profit 2: 0.7240
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.7240 | 0.6900 |
| 0.7140 | 0.6800 |
| 0.7035 | 0.6730 |
