EUR/NZD: Ichimoku clouds

On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Tenkan-sen line (1.6900). The closest resistance level is the lower border of the cloud (1.7006).

On the four-hour chart we can see a correction of the upward movement. On the daily chart the Bullish trend is still strong. It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (1.6970) and Stop Loss at the upper border of the cloud (1.6902).