Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.6771 and continues to move as part of the correction. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend in the New Zealand Dollar pair. As part of the New Zealand Dollar Forecast NZD/USD March 8, 2019. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 0.6800. 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 0.6665.
New Zealand Dollar Forecast NZD/USD March 8, 2019
An additional signal in favor of the fall in the NZD/USD currency pair will be a rebound from the resistance area. The second signal will be the test of the lower boundary of the model «Triangle». Earlier, a medium strength signal was received for the SELL the New Zealand Dollar pair. The signal was formed due to the intersection of signal lines at the level of 0.6835.
Cancellation of the option to reduce quotes of the NZD/USD pair will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the 0.6845 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 0.6735.
New Zealand Dollar Forecast NZD/USD March 8, 2019 involves an attempt to test the resistance level near the level of 0.6800. Where can we expect to continue the fall of the currency pair with a potential target near the level of 0.6665. The cancellation of the option to reduce the pair will be a breakdown of the area of 0.6845. This will indicate a continuation of the rise of the pair on Forex with the target below the level of 0.6935.