New Zealand Dollar forecast NZD/USD on October 16, 2017


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Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.7129. 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 is expected. The Ichimoku Kinko Hyo indicator cloud near the level of 0.7130, where one should expect an attempt to fall and further develop the bearish trend with the target near the level of 0.6990.

New Zealand Dollar forecast NZD/USD on October 16, 2017

New Zealand Dollar forecast NZD/USD on October 16, 2017

An additional signal in favor of the drop is the resistance level test. Earlier, we received a weak signal for buy of the New Zealand Dollar/US Dollar, due to the crossing of the signal lines at the level of 0.7085. 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 quotes above the area of ​​0.7165, which will indicate a change in the downward trend in favor of the upside. Expect to accelerate the fall in quotes NZD/USD is with a breakdown of the level of 0.7045.

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