0.6232 is our pivot point.
Our preference: the downside prevails as long as 0.6232 is resistance.
Alternative scenario: the upside breakout of 0.6232, would call for 0.6261 and 0.6278.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.6231 and 0.6251). Finally, the NZD/USD has penetrated its lower Bollinger band (0.6210).
Supports and resistances:
0.6278 **
0.6261 *
0.6232 **
0.6221
0.6208 last
0.6169
0.6153 **
0.6136 *
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 03-24-2023 at 11:09 UTC+1
Price reference: 0.6208 last known on 03-24-2023 at 11:09 UTC+1
Investment horizon: INTRADAY