Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.779
Kijun-Sen level: 0.7763
Ichimoku cloud top: 0.7763
Ichimoku cloud bottom: 0.7822
NZD/USD is facing strong resistance around 0.7885 (trend line joining 0.8033 and 0.7976) and short term trend reversal only above that level.
On the upper side break above will target 0.7925/0.7975 (Oct 29th high).
The pair minor support is around 0.7830. Any indicative break below would extend gain to 0.779/0.7696 (Nov 3rd low).
Recommendation: Sell NZD/USD around 0.7865, SL 0.7885, Target 0.770.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.779
Kijun-Sen level: 0.7763
Ichimoku cloud top: 0.7763
Ichimoku cloud bottom: 0.7822
NZD/USD is facing strong resistance around 0.7885 (trend line joining 0.8033 and 0.7976) and short term trend reversal only above that level.
On the upper side break above will target 0.7925/0.7975 (Oct 29th high).
The pair minor support is around 0.7830. Any indicative break below would extend gain to 0.779/0.7696 (Nov 3rd low).
Recommendation: Sell NZD/USD around 0.7865, SL 0.7885, Target 0.770.