Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.8899
Kijun-Sen level: 0.8924
Ichimoku cloud top: 0.8932
Ichimoku cloud bottom: 0.8861
- NZD/CAD made a high of 0.89617 and is retreating from that level. Overall trend is weak as long as resistance 0.9125 holds.
- On the Upper side break above will target 0.9050/0.9184. the pair’s minor support is around 0.8830 and any indicative break below will target 0.8730/0.8696.Recommendation: Sell NZD/CAD around 0.8950, SL 0.9125, Target 0.86960.
The material has been provided by InstaForex Company – www.instaforex.com