Technical analysis NZDUSD for 11.05.2022

The Tenkan-sen line is located below 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 0.6273. The closest resistance is the level 0.6350

Key levels

• 0.6455, 0.6390, 0.6335, 0.6273, 06225, 0.6160, 0.6080

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.6273, with Take Profit of 0.6335 and Stop Loss of 0.6225

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.6225, with Take Profit of 0.6160 and Stop Loss of 0.6273