We prefer to go Short in NZD/USD
NZD/USD has recovered after making a low of 0.7684. Overall trend is bearish as long as minor resistance 0.7815 holds.
On the downside major support is around 0.7660 and any break of will take the pair to 0.7600/0.7503 (131.8% retracement of 0.78699 and 0.76075).
The break of 0.7815 would extend gain to 0.7870/0.7925 in short term.
Overall trend reversal level -0.7870.
Recommendation: Sell NZD/USD around 0.775, SL 0.7815, Target 0.7503.
On the downside major support is around 0.7660 and any break of will take the pair to 0.7600/0.7503 (131.8% retracement of 0.78699 and 0.76075).
The break of 0.7815 would extend gain to 0.7870/0.7925 in short term.
Overall trend reversal level -0.7870.
Recommendation: Sell NZD/USD around 0.775, SL 0.7815, Target 0.7503.
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