Technical analysis NZDUSD for 20.09.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.59275. The closest resistance is the level 0.59500

Key levels

• 0.59700, 0.59500, 0.59275, 0.59075, 0.58850

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.59275, with Take Profit of 0.59500 and Stop Loss of 0.59075

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.59075, with Take Profit of 0.58850 and Stop Loss of 0.59275