Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.6553. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates that there is an upward trend for the pair New Zealand Dollar US Dollar. Ichimoku Kinko Hyo Cloud upper test is expected near the level of 0.6540, from where we can expect an attempt to rebound and further growth of the NZD/USD pair with a target near the level of 0.6665.
NZD/USD forecast New Zealand Dollar October 24, 2018
An additional signal in favor of the growth of the pair NZD/USD will be a rebound from the support area. Earlier, a weak signal was received for BUY of the New Zealand Dollar pair, due to the intersection of signal lines at 0.6465.
Cancellation of the growth rate of the NZD/USD pair quotes will break the lower boundary of the Ichimoku Kinko Hyo Cloud with the close of quotes below 0.6500, indicating a change in the uptrend in favor of the downward trend and the continuation of the pair’s decline. Expect to accelerate the growth of quotations NZD/USD stands with the breakdown of the resistance area and closing above the level of 0.6620.
NZD/USD forecast New Zealand Dollar October 24, 2018 involves an attempt to test the support level near 0.6540, from which one can expect continued growth of the currency pair with a potential target near 0.6665, a cancellation of the 0.6500 area will cancel the growth option of the pair, which will indicate a further decline.