Technical analysis NZDUSD for 17.06.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.6340. The closest resistance is the level 0.6385

Key levels

• 0.6575, 0.6485, 0.6430, 6385, 6340, 0.6285, 0.6195

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.6385, with Take Profit of 0.6430 and Stop Loss of 0.6340

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.6340, with Take Profit of 0.6285 and Stop Loss of 0.6385