Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.6616 and continues to move in decline. The pair is trading below the bottom of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend for the New Zealand Dollar pair. As part of the NZD/USD Forex forecast for April 29, 2019. A test of the region of Ichimoku Kinko Hyo signal lines is expected near the level of 0.6645. Where should we expect an attempt to rebound and further fall of the pair NZD/USD. The target of this movement is the area near the level of 0.6490.
New Zealand Dollar Forecast NZD/USD April 29, 2019
An additional signal in favor of the fall of the NZD/USD currency pair will be a rebound from the resistance area. The second signal will be a rebound from the upper boundary of the downward channel. Previously, a strong signal was received for SELL the New Zealand Dollar pair. The signal was formed due to the intersection of signal lines at the level of 0.6730.
Canceling the option of falling quotations of the NZD/USD pair will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 0.6695 area. This option will indicate a change in the downward trend in favor of the upward trend and continued growth of the pair. Expect to accelerate the fall of quotations NZD/USD stands with the breakdown of the support area and closing below 0.6555.
New Zealand Dollar Forecast NZD/USD April 29, 2019 involves an attempt to test the resistance level near the level of 0.6645. Where can we expect to continue the fall of the currency pair with a potential target near the level of 0.6490. The cancellation of the option to reduce the pair will be the breakdown of the area 0.6695. This will indicate that the pair will continue to grow in Forex with a target above the level of 0.6785.