Technical analysis NZDUSD for 06.04.2022

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 ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.68825. The closest resistance is the level 0.69500

Key levels

• 0.71050, 0.70150, 0.69500, 0.68825, 0.68300, 0.67850, 0.67050

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.69500, with Take Profit of 0.68825 and Stop Loss of 0.69870

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.70150, with Take Profit of 0.71050 and Stop Loss of 0.69500