Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.7221. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the New Zealand Dollar/US Dollar pair. The test area of Ichimoku Kinko Hyo signal lines near the level of 0.7245 is expected, from which it is expected to attempt a rebound and further fall with a target near the level of 0.7105.
New Zealand Dollar forecast NZD/USD on March 6, 2018
An additional signal in favor of reducing the pair will be the test of the upper boundary of the bearish channel. Earlier, a weak 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 0.7355.
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 0.7315, 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 0.7165.
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