Technical analysis NZDUSD for 16.05.2022

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 0.6273. The closest resistance is the level 0.6225

Key levels

• 0.6455, 0.6390, 0.6335, 0.6273, 0.6225, 0.6160, 0.6080

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 0.6273 and Stop Loss of 0.6225

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.6225, with Take Profit of 0.6160 and Stop Loss of 0.6273