Technical analysis NZDUSD for 05.05.2022

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 descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.65300. The closest resistance is the level 0.65900

Key levels

• 0.66450, 0.65900, 0.65300, 0.64550, 0.63900, 0.63350

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 0.65900 and Stop Loss of 0.64785

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.64550, with Take Profit of 0.63900 and Stop Loss of 0.64900