We prefer to go Short in NZD/USD
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7684
Kijun-Sen level: 0.7714
Ichimoku cloud top: 0.7796
Ichimoku cloud bottom: 0.7829
NZD/USD has retreated after making high of 0.7760. Overall trend is weak as long as 0.7765 holds.
On the lower side minor support is around 0.766 and break below will target 0.7607/0.7550 (138.2% retracement of 0.76075 and 0.77606).
Long term trend reversal only above 0.7825 level.
Recommendation: Sell NZD/USD around 0.770, SL 0.7765, Target 0.7551.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7684
Kijun-Sen level: 0.7714
Ichimoku cloud top: 0.7796
Ichimoku cloud bottom: 0.7829
NZD/USD has retreated after making high of 0.7760. Overall trend is weak as long as 0.7765 holds.
On the lower side minor support is around 0.766 and break below will target 0.7607/0.7550 (138.2% retracement of 0.76075 and 0.77606).
Long term trend reversal only above 0.7825 level.
Recommendation: Sell NZD/USD around 0.770, SL 0.7765, Target 0.7551.