Currency pair New Zealand Dollar to US Dollar NZD/USD completes trading week near the level of 0.7168. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the New Zealand Dollar/US Dollar. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the 0.7205 level, from which one should expect an attempt to fall and further develop the bearish trend with a target to lower near the level of 0.6930.
Analysis & forecast NZD/USD on October 16 — 20, 2017
Earlier, a strong signal was received for the sell of the pair New Zealand Dollar/US Dollar, due to the crossing of signal lines at the level of 0.7280. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 0.7370, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes NZD/USD is with the breakdown of the support area and closing below the level of 0.7030.