Source: PaxForex Premium Analytics Portal, Technical Insight
NZD/USD ticks lower after weaker Chinese PMIs, and remains below mid-0.5800s.
NZD/USD,D1
Pivot: 0.5808
Analysis:
While the price is below 0.5970, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.5808
- Take Profit 1: 0.5770
- Take Profit 2: 0.5700
Alternative scenario:
If level 0.5900 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.5900
- Take Profit 1: 0.6050
- Take Profit 2: 0.6150
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6150 | 0.5770 |
| 0.6050 | 0.5700 |
| 0.5970 | 0.5600 |
