Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.6742 and continues to move in the framework of the decline. The pair is trading below the bottom of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend in the pair New Zealand Dollar US Dollar. As part of the NZD/USD Forex forecast for April 9, 2019. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 0.6770. Where should we expect an attempt to rebound and further fall of the pair NZD/USD. The purpose of this movement is the area near the level of 0.6635.
New Zealand Dollar Forecast NZD/USD April 9, 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. Earlier, a weak 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 0.6870.
Cancellation of the option of falling quotations of the pair NZD/USD will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 0.6845. 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 0.6705.
New Zealand Dollar Forecast NZD/USD April 9, 2019 implies an attempt to test the resistance level near the level of 0.6770. Where can we expect to continue the fall of the currency pair with a potential target near the level of 0.6635. The cancellation of the option to reduce the pair will be a breakdown of the area of 0.6845. This will indicate that the pair will continue to grow in Forex with a target above the level of 0.7025.