Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.7170. 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 test of the lower boundary of the Ichimoku Kinko Hyo indicator cloud is expected near the level of 0.7220, from which one should expect an attempt to fall and further develop the bearish trend with the target near the level of 0.7060. In favor of falling quotations of the pair will test the upper limit of the bearish channel.
New Zealand Dollar forecast NZD/USD on October 6, 2017
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 0.7350. 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 0.7250, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations NZD/USD stands with the breakdown of the lower boundary of the downward channel and the closing below the area of 0.7120.
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