Positioning Bias:
NZD/USD has retreated slightly till 0.7713 after making high of 0.7847 and short term trend is bearish as long as 0.7805 holds.
The pair’s minor resistance is around 0.7765 would extend gain to 0.7805/0.7855 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- Sell
Recommendation: Sell NZD/USD around 0.7740, SL 0.7805, Target 0.7609.
NZD/USD has retreated slightly till 0.7713 after making high of 0.7847 and short term trend is bearish as long as 0.7805 holds.
The pair’s minor resistance is around 0.7765 would extend gain to 0.7805/0.7855 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- Sell
Recommendation: Sell NZD/USD around 0.7740, SL 0.7805, Target 0.7609.