The currency pair New Zealand Dollar to US Dollar NZD/USD is trading at 0.6847. The pair broke through Ichimoku Kinko Hyo Cloud and began to trade below its lower limit, indicating a downward trend in the New Zealand Dollar. It is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 0.6885, from which it is expected to attempt a fall and develop a bearish trend for the pair with a view to lower near the level of 0.6780.
NZD/USD prediction New Zealand Dollar on May 12, 2017
Earlier, a medium strength signal was received for purchases of the New Zealand Dollar pair of the US dollar, due to the intersection of the signal lines at the level of 0.6904. 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 0.6920, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotes NZD/USD is with the breakdown of the local minimum area at 0.6780.
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