Currency pair New Zealand Dollar to US Dollar NZD/USD completes trading week near the level of 0.7223. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the New Zealand Dollar Dollar. Ichimoku Kinko Hyo Cloud near the level of 0.7285 is expected to test the lower boundary of the Cloud, from which one should expect an attempt to fall and further develop the bearish trend with a target to lower near the level of 0.6950.
Analysis & forecast NZD/USD on October 2 — 6, 2017
Earlier, we received a weak signal for buy New Zealand Dollar/US Dollar, due to the crossing of signal lines at the level of 0.7250. 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 quotations NZD/USD is with the breakdown of the support area and closing below the level of 0.7100.