Technical analysis NZDUSD for 14.10.2022

Tenkan-sen and Kijun-sen lines are merged. 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 resistance is the level 0.57090. The closest support is the level 0.55980

Key levels

• 0.58570, 0.58000, 0.57090, 0.55980, 0.55070, 0.54240

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.57090, with Take Profit of 0.58000 and Stop Loss of 0.56450

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.55980, with Take Profit of 0.55070 and Stop Loss of 0.56450