Currency pair New Zealand Dollar to US Dollar NZD/USD ends the trading week near the level of 0.6769. 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. The current trading week is expected to test the lower limit of the Ichimoku Kinko Hyo Cloud near the level of 0.6795. Where should we expect an attempt to rebound and further fall of the pair with a target near the level of 0.6505.
Technical Analysis and Forecast NZD/USD April 15 — 19, 2019
An additional signal in favor of the fall of the currency pair on FOREX will be the test of the resistance area. As well as a rebound from the lower boundary of the model «Triangle”. Earlier, a weak signal was received for SELL the New Zealand Dollar. The signal was formed due to the intersection of signal lines at the level of 0.6825.
Canceling the option of falling quotes of the pair will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above 0.6890. This will indicate a change in the downward trend in favor of an upward trend. Expect to accelerate the fall of quotations NZD/USD stands with the breakdown of the support area and closing below 0.6665.
Technical Analysis and Forecast NZD/USD April 15 — 19, 2019 suggests an attempt to develop a correction to the level of 0.6795. Where can we expect a rebound and the continuation of the fall of the pair with a potential target near the level of 0.6505. In favor of the fall will make a test of the resistance level. The cancellation of the option to reduce the currency pair will be the breakdown of the area of 0.6890. In this case, we can expect a continuation of the rise and a possible change in the current trend.