We prefer to go short NZD/USD
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7709
Kijun-Sen level: 0.7750
Ichimoku cloud top: 0.7832
Ichimoku cloud bottom: 0.7863
NZD/USD has made a low of 0.7659 and is slightly recovering from that level. Overall trend is bearish as long as short term resistance 0.778 holds.
Minor resistance is around 0.77578 (Nov 6th high). Any break above will target 0.7780.
Short term support is around 0.7650. Any indicative break below would extend loss to 0.7590 (138.2% retracement of 0.77130 to 0.80335)/ 0.7475.
Recommendation: Sell NZD/USD around 0.7683, SL 0.778, Target 0.7475
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7709
Kijun-Sen level: 0.7750
Ichimoku cloud top: 0.7832
Ichimoku cloud bottom: 0.7863
NZD/USD has made a low of 0.7659 and is slightly recovering from that level. Overall trend is bearish as long as short term resistance 0.778 holds.
Minor resistance is around 0.77578 (Nov 6th high). Any break above will target 0.7780.
Short term support is around 0.7650. Any indicative break below would extend loss to 0.7590 (138.2% retracement of 0.77130 to 0.80335)/ 0.7475.
Recommendation: Sell NZD/USD around 0.7683, SL 0.778, Target 0.7475