Technical analysis NZDUSD for 05.04.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.70120. The closest support is the level 0.69500

Key levels

• 0.71240, 0.70680, 0.70120, 0.69500, 0.68830, 0.68300

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 0.70120 and Stop Loss of 0.69500

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 0.70120, with Take Profit of 0.69500 and Stop Loss of 0.70385