FxWirePro

We prefer to go Short in NZD/USD

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
0
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7784
Kijun-Sen level: 0.7750
Ichimoku cloud top: 0.7685
Ichimoku cloud bottom: 0.7767

NZD/USD has made a fake trend line break out at 0.7869 and is declining from that level. Short term trend is weak as long as resistance 0.78750 holds. It has formed descending triangle pattern and break of 0.7720 will confirm the weakness.
The pair’s major Support is around 0.7720 and break of will target 0.7660/0.7600. The NZD/USD short term resistance is 0.7875 and break would extend gain to 0.7925/0.7975.

Indicators
Ichimoku (9, 26, 52, 26) – Sell
MACD (12.26.9) – Sell

Recommendation: Sell NZD/USD around 0.7810, SL 0.7875, Target 0.7610.