- NZD/USD declined till 0.7577 in intraday after short bounce back till 0.76380. Short term trend is bearish as long as resistance 0.7640 holds.
- Technically the pair’s minor resistance is around 0.7640 (200 day HMA) and any break above would extend gains till 0.7695 (cloud top)/0.7740 in short term.
- On the downside NZD/USD is facing minor support around 0.7580 and break below will drag the pair further down till 0.7550/0.7520.
Indicator (1 hour chart)
CCI (50) – Sell
Woodies CCI (14) – Sell
Ichimoku- Sell
It is good to sell on rallies around 0.7600 with stop around 0.7640 for the target of 0.7550/0.7530.
The material has been provided by InstaForex Company – www.instaforex.com