The currency pair New Zealand dollar to US Dollar NZD/USD completes the trading month at 0.6867. The pair broke through Ichimoku 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 Cloud near the level of 0.6910, from which one should expect an attempt to fall and develop a bearish tendency for a pair with a view to lower near the level of 0.6430.
Ichimoku Kinko Hyo Forecast NZD/USD for May 2017
Earlier, a medium strength signal was received for the sale of the New Zealand Dollar pair of the US dollar, due to the intersection of the signal lines at the level of 0.7163. Cancellation of the fall option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 0.7340, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotations NZD/USD is with the breakdown of the local minimum area at 0.6720.
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