Currency pair New Zealand Dollar to US Dollar NZD/USD is trading at 0.7139. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates that there is an bullish trend in the pair New Zealand Dollar/US Dollar. A test of the signal line area near the level of 0.7110 is expected, from which we should expect an attempt of growth and development of the bullish tendency for the pair with the purpose of growth near the level of 0.7210.
Technical analysis & forecast NZD/USD June 6, 2017
Earlier, a strong signal was received for buying 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 quotations of the pair will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the area of 0.7030, which will indicate a change in the bullish 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 0.7180.
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