Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.7312. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the New Zealand Dollar/US Dollar pair. Ichimoku Kinko Hyo Cloud near the level of 0.7330 is expected to test the bottom of the cloud, from which it is expected to attempt a rebound and further fall with the target near the level of 0.7205. An additional signal in favor of the growth of the pair is the lower bound of the «Triangle» model.
New Zealand Dollar forecast NZD/USD on February 7, 2018
Earlier, a medium strength signal was received for the sell of the New Zealand Dollar/US Dollar pair, due to the crossing of the signal lines at the level of 0.7355. The cancellation of the fall of the pair quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 0.7375 area, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations NZD/USD is with the breakdown of the support area and closing below the level of 0.7250.