Technical analysis NZDUSD for 02.12.2021

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.6805. The closest resistance is the level 0.6860

Key levels

• 0.7215, 07140, 07075, 0.6985, 0.6925, 0.6860, 0.6805, 0.6730, 0.6640

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 0.6860 and Stop Loss of 0.6785

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.6860, with Take Profit of 0.6925 and Stop Loss of 0.6805