Technical analysis NZDUSD for 08.08.2023
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 resistance is the level 0.60900. The closest support is the level 0.60120
Key levels
- 0.61640, 0.61290, 0.60900, 0.60120, 0.59810, 0.59350
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 0.60900, with Take Profit of 0.61290 and Stop Loss of 0.60500
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 0.60120, with Take Profit of 0.59810 and Stop Loss of 0.60500
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.