0.6240 is our pivot point.
Our preference: the downside prevails as long as 0.6240 is resistance.
Alternative scenario: the upside breakout of 0.6240, would call for 0.6271 and 0.6290.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6239 and 0.6245). Finally, the NZD/USD is trading below its lower Bollinger band (standing at 0.6214).
Supports and resistances:
0.6290 **
0.6271 *
0.6240 **
0.6228
0.6213 last
0.6174
0.6156 **
0.6137 *
0.6119 **
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 03-21-2023 at 04:41 UTC+1
Price reference: 0.6213 last known on 03-21-2023 at 04:41 UTC+1
Investment horizon: INTRADAY