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NZD/USD intraday: the downside prevails as long as 0.5860 is resistance

2023-10-24
637

Our pivot point is at 0.5860.

Our preference: the downside prevails as long as 0.5860 is resistance.

Alternative scenario: above 0.5860, look for 0.5882 and 0.5896.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.5845 and 0.5850).

Supports and resistances:

0.5896 **

0.5882 *

0.5860 **

0.5852

0.5842 last

0.5812

0.5799 **

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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