Technical analysis NZDUSD for 24.01.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom 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 0.6700. The closest resistance is the level 0.6760

Key levels

• 0.6890, 0.6820, 0.6760, 0.6700, 0.6630, 0.6580, 0.6510

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.6760, with Take Profit of 0.6820 and Stop Loss of 0.6700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.6700, with Take Profit of 0.6580 and Stop Loss of 0.6760