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NZD/USD intraday: rebound

2023-10-26
772

Our pivot point is at 0.5783.

Our preference: rebound.

Alternative scenario: the downside breakout of 0.5783 would call for 0.5761 and 0.5748.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (0.5787) but below its 50 period moving average (0.5804).

Supports and resistances:

0.5871 **

0.5858 *

0.5845 **

0.5832

0.5803 last

0.5792

0.5783 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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