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Short

NZD/USD Short term outlook

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
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NZD/USD has formed double top around 0.7620 and has retreated till 0.75115. Short term trend is weak as long as resistance 0.7570 holds.

Any break of 0.7570 will target the pair to 0.7615 and overall bullish invalidation can happen only above 0.7625.

On the downside the pair is facing major support around 0.7470 and indicative break below could pave way for 0.7420/0.7330.

Indicators (4 Hours chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell NZD/USD around 0.7520, SL 0.7570, targets 0.7420/0.7380.






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