Currency pair New Zealand Dollar to US Dollar NZD/USD completes the trading week near the level of 0.6862. The pair is trading above the upper limit of the Ichimoku Kinko Hyo Cloud.
This indicates the presence of a bullish trend for the New Zealand Dollar pair. The current trading week is expected to test the area of signal lines Ichimoku Kinko Hyo near the level of 0.6765. Where should we expect an attempt to rebound and further growth of the pair with a target near the level of 0.7100.
Technical analysis & forecast NZD/USD December 10 — 14, 2018
An additional signal in favor of the growth of the pair will be the test area of support. As well as a rebound from the lower boundary of the rising channel. Earlier, a weak signal was received for BUY the New Zealand Dollar pair. The signal was formed due to the intersection of signal lines at the level of 0.6555.
Cancellation of the growth rate of the pair quotes will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the quotes closing below 0.6625. This will indicate a change in the upward trend in favor of the downward trend. Expect acceleration of growth of quotations NZD/USD stands with the breakdown of the resistance area and closing above the level of 0.6955.
Technical analysis & forecast NZD/USD December 10 — 14, 2018 suggests an attempt to develop a correction to the level of 0.6765. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 0.7100. In favor of growth will test the resistance level. The cancellation of the growth of the currency pair will be a breakdown of the 0.6625 area. In this case, we should expect the continuation of the fall and a possible change in the current trend.