Technical analysis NZDUSD for 25.04.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, 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 0.6590. The closest resistance is the level 0.6630

Key levels

• 0.6785, 0.6725, 0.6690, 0.6610, 0.6630, 0.6590, 0.6530

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 0.6590 and Stop Loss of 0.6610

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.6610, with Take Profit of 0.6725 and Stop Loss of 0.6630