Technical analysis NZDUSD for 07.09.2022

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 0.5995. The closest resistance is the level 0.6055

Key levels

• 0.6245, 0.6190, 0.6120, 0.6055, 0.5995, 0.5925

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.6055, with Take Profit of 0.6120 and Stop Loss of 0.5995

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.5995, with Take Profit of 0.5925 and Stop Loss of 0.6055