Technical analysis NZDUSD for 07.12.2022

The Tenkan-sen line is located above the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.63690. The closest support is the level 0.62710

Key levels

• 0.64840, 0.64300, 0.63690, 0.62710, 0.62170, 0.61550

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.63690, with Take Profit of 0.64300 and Stop Loss of 0.63200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.62710, with Take Profit of 0.62170 and Stop Loss of 0.63200