Positioning Bias:
NZD/USD has recovered till 0.7808 after making low of 0.76174 and short term trend is bearish as long as 0.7870 holds.
The pair’s minor resistance is around 0.7765 would extend gain to 0.7815/0.7870 in short term.
On the downside minor support is around 0.7700 and any break below will take the pair to 0.7660/0.7609.
Indicator (4 Hour Chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Neutral
Recommendation: Sell NZD/USD around 0.7795, SL 0.7871, Target 0.7609.
NZD/USD has recovered till 0.7808 after making low of 0.76174 and short term trend is bearish as long as 0.7870 holds.
The pair’s minor resistance is around 0.7765 would extend gain to 0.7815/0.7870 in short term.
On the downside minor support is around 0.7700 and any break below will take the pair to 0.7660/0.7609.
Indicator (4 Hour Chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Neutral
Recommendation: Sell NZD/USD around 0.7795, SL 0.7871, Target 0.7609.