Intraday trend: Bullish
Ichimoku analysis (1Hour chart):
Tenkan-Sen level: 0.7778
Kijun-Sen level: 0.7801
Ichimoku cloud top: 0.7866
Ichimoku cloud bottom: 0.7843
NZD/USD has formed almost a triple bottom around 0.7760 and any trend reversal can happen only below that level. A slight pullback is expected till 0.7815.
The pair’s minor resistance is around 0.7778 and any indicative break above would extend gain to 0.7805/0.7815 in short term.
Any break below major support 0.7760 will take the pair to 0.7711 (Nov 11th low).
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Buy
Recommendation: Buy NZD/USD around 0.7770-75, SL 0.7758, Target 0.7815.
Ichimoku analysis (1Hour chart):
Tenkan-Sen level: 0.7778
Kijun-Sen level: 0.7801
Ichimoku cloud top: 0.7866
Ichimoku cloud bottom: 0.7843
NZD/USD has formed almost a triple bottom around 0.7760 and any trend reversal can happen only below that level. A slight pullback is expected till 0.7815.
The pair’s minor resistance is around 0.7778 and any indicative break above would extend gain to 0.7805/0.7815 in short term.
Any break below major support 0.7760 will take the pair to 0.7711 (Nov 11th low).
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Buy
Recommendation: Buy NZD/USD around 0.7770-75, SL 0.7758, Target 0.7815.