Technical analysis EURNZD for 01.06.2022

The Tenkan-sen line is located below 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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.6375. The closest resistance is the level 1.6475

Key levels

• 1.6795, 1.6650, 1.6560, 1.6475, 1.6375, 1.6275, 1.6180

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 1.6375 and Stop Loss of 1.6556

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.6556, with Take Profit of 1.6650 and Stop Loss of 1.6475