Technical analysis NZDUSD for 03.10.2024

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines

Key levels

• 0.59769, 0.61240, 0.62332, 0.62919, 0.63785

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.62332, with Take Profit of 0.63785 and Stop Loss of 0.61240

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 0.62919, with Take Profit of 0.59769 and Stop Loss of 0.63785