Technical analysis NZDUSD for 29.03.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.62720. The closest support is the level 0.63320

Key levels

• 0.63180, 0.62950, 0.62720, 0.63320, 0.62020, 0.61730

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.62720, with Take Profit of 0.62950 and Stop Loss of 0.62500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.63320, with Take Profit of 0.62020 and Stop Loss of 0.62500