Currency pair New Zealand dollar to US dollar NZD/USD completes the trading week at 0.6842. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in the New Zealand Dollar. It is expected to test the area of signal lines near the level of 0.6920, from which one should expect an attempt to fall and develop a bearish trend for a pair with a view to lower near the level of 0.6730.
NZD/USD forex forecast for the week May 15 — 19, 2017
Previously, a strong 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 0.6940. The cancellation of the fall of the quotes of the pair will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes above the area of 0.7050, which indicates a change in the downward trend in favor of the upward 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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