Technical analysis NZDUSD for 09.08.2023
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.60450. The closest resistance is the level 0.60700
Key levels
- 0.61275, 0.60900, 0.60700, 0.60450, 0.60225
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 0.60700, with Take Profit of 0.60450 and Stop Loss of 0.60900
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 0.60900, with Take Profit of 0.61275 and Stop Loss of 0.60700
Scenario
Recommendation
SELL LIMIT
Entry Point
0.60700
Take Profit
0.60450
Stop Loss
0.60900
Key Levels
0.61275, 0.60900, 0.60700, 0.60450, 0.60225
Alternative scenario
Recommendation
BUY STOP
Entry Point
0.60900
Take Profit
0.61275
Stop Loss
0.60700
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.