0.6201 is our pivot point.
Our preference: the upside prevails as long as 0.6201 is support.
Alternative scenario: the downside breakout of 0.6201 would call for 0.6172 and 0.6156.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.6202 and 0.6198). Finally, the NZD/USD is trading above its upper Bollinger band (standing at 0.6229).
Supports and resistances:
0.6319 **
0.6303 *
0.6286 **
0.6269
0.6234 last
0.6212
0.6201 **
0.6172 *
0.6156 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 03-28-2023 at 05:28 UTC+1
Price reference: 0.6234 last known on 03-28-2023 at 05:28 UTC+1
Investment horizon: INTRADAY