Technical analysis NZDUSD for 28.09.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.59075. The closest resistance is the level 0.59225

Key levels

• 0.59500, 0.59350, 0.59225, 0.59075, 0.58925

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.59225, with Take Profit of 0.59075 and Stop Loss of 0.59350

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.59350, with Take Profit of 0.59500 and Stop Loss of 0.59225