Technical analysis NZDUSD for 19.08.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 0.6245. The closest resistance is the level 0.6270

Key levels

• 0.6350, 0.6300, 0.6270, 0.6245, 0.6215, 0.6180, 0.6140

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.6245, with Take Profit of 0.6215 and Stop Loss of 0.6270

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.6270, with Take Profit of 0.6300 and Stop Loss of 0.6245