NZD/USD Short Term Outlook

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
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 0.7840 holds. It has formed descending triangle pattern and break of 0.7720 will confirm the weakness.
The pair’s major resistance is around 0.7720 and break of will target 0.7660/0.7600.

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

Recommendation: Sell NZD/USD around 0.7770-75, SL 0.7840, Target 0.7660.