NZD/USD Short Term outlook

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
147 0
NZD/USD has broken short term resistance 0.7530 ( trend line joining 0.7566 and 0.7546) and rebound till 0.7595 cannot be ruled out. Short term support is around 0.7480. Any trend reversal can happen only below that level.

On the downside minor support is around 0.7505. Any break below will drag the pair further down till 0.748/0.7420.

Intraday resistance is around 0.7570 and break above would extend gains to 0.7595/0.7618.

Indicators (4hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy NZD/USD around 0.7540, SL 0.7500, Targets 0.7595/0.7618.

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