Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7896
Kijun-Sen level: 0.7889
Ichimoku cloud top: 0.7911
Ichimoku cloud bottom: 0.7817
NZD/USD made a high of 0.7945 and has retreated from that level. Overall trend is weak as long as resistance 0.7976 holds. Short term trend reversal only above 0.7976.
On the upper side above 0.7976 it can reach 0.8035. The pair’s minor support is around 0.7800 and any break below will target 0.7710/0.7660. Minor resistance around 0.7950.
Recommendation: Sell NZD/USD around 0.7865, SL 0.7950, Target 0.7710.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7896
Kijun-Sen level: 0.7889
Ichimoku cloud top: 0.7911
Ichimoku cloud bottom: 0.7817
NZD/USD made a high of 0.7945 and has retreated from that level. Overall trend is weak as long as resistance 0.7976 holds. Short term trend reversal only above 0.7976.
On the upper side above 0.7976 it can reach 0.8035. The pair’s minor support is around 0.7800 and any break below will target 0.7710/0.7660. Minor resistance around 0.7950.
Recommendation: Sell NZD/USD around 0.7865, SL 0.7950, Target 0.7710.