Currency pair New Zealand Dollar to US Dollar NZD/USD is trading at 0.7194. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an upward trend in the pair New Zealand Dollar/US Dollar. It is expected to test the area of signal lines near the level of 0.7140, from which one should expect an attempt of growth and development of the bullish tendency for the pair with the target of growth near the level of 0.7270.
New Zealand Dollar forecast on June 8, 2017
An additional signal in favor of an upward trend is also the support area test. Earlier, a strong signal was received for purchases of the pair New Zealand Dollar/US Dollar, due to the crossing of signal lines at the level of 0.7080. The cancellation of the growth of the pair’s quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 0.7070, which will indicate a change in the upward trend in favor of the bearish trend. Expect to accelerate the growth of quotations NZD/USD stands with the breakdown of the local maximum area at the level of 0.7240.
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