Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.6555. The pair continues to trade inside the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for the New Zealand Dollar pair. Ichimoku Kinko Hyo Cloud upper test is expected near the level of 0.6560, from where we can expect an attempt to rebound and further fall of the NZD/USD pair with the target near the level of 0.6485.
NZD/USD forecast New Zealand Dollar October 31, 2018
An additional signal in favor of the fall in the pair NZD/USD will be a rebound from the resistance area. Earlier, a weak signal was received for BUY the New Zealand Dollar pair, due to the crossing of signal lines at the level of 0.6515.
Canceling the option of falling quotations of the pair NZD/USD will break the upper boundary of the Ichimoku Kinko Hyo Cloud with the close of quotes above 0.6570, indicating a change in the side trend in favor of the upward trend and continued growth of the pair. Expect to accelerate the fall in quotations NZD/USD stands with the breakdown of the lower boundary of the rising channel and closing below 0.6460.
NZD/USD forecast New Zealand Dollar October 31, 2018 involves an attempt to test the resistance level near 0.6560, from which we can expect the currency pair to continue to fall with a potential target near 0.6485, the cancellation of the decline option will be a breakdown of 0.6570.