We prefer to go short NZD/USD
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7898
Kijun-Sen level: 0.7843
Ichimoku cloud top: 0.7764
Ichimoku cloud bottom: 0.7818
NZD/USD has made a high 0.79739 and is slightly retreating from that level. Overall trend is weak as long as 0.80335 holds.
The pair is facing minor support at 0.792. Any indicative break below would extend loss to 0.7820/0.777 (61.8% retracement of 0.76593 and 0.79739). NZD/USD major resistance is around 0.79764 and any break will target 0.80335.
Recommendation: Sell NZD/USD around 0.795, SL 0.8036, Target 0.7779.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7898
Kijun-Sen level: 0.7843
Ichimoku cloud top: 0.7764
Ichimoku cloud bottom: 0.7818
NZD/USD has made a high 0.79739 and is slightly retreating from that level. Overall trend is weak as long as 0.80335 holds.
The pair is facing minor support at 0.792. Any indicative break below would extend loss to 0.7820/0.777 (61.8% retracement of 0.76593 and 0.79739). NZD/USD major resistance is around 0.79764 and any break will target 0.80335.
Recommendation: Sell NZD/USD around 0.795, SL 0.8036, Target 0.7779.