Currency pair New Zealand Dollar to US Dollar NZD/USD completes the trading week near the level of 0.6654. The pair is trading inside the Ichimoku Kinko Hyo Cloud, which indicates the presence of a side trend for the New Zealand Dollar pair. At the current trading week, the test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 0.6610, from where we can expect an attempt of a rebound and further growth of the pair with a target near the level of 0.6850.
Technical analysis & forecast NZD/USD November 5 — 9, 2018
An additional signal in favor of the pair falling will be a test of the support area, as well as a rebound from the upper border of the «Triangle» model. Earlier, a weak signal was received for BUY the New Zealand Dollar pair, due to the crossing of signal lines at the level of 0.6555.
Cancellation of the growth of quotations of the pair will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below 0.6520, which will indicate a change in the side trend in favor of a downward trend. Expect to accelerate the growth of quotations NZD/USD stands with the breakdown of the upper boundary of the indicator cloud and closing above the level of 0.6700.
Analysis & technical forecast NZD/USD November 5 — 9, 2018 suggests an attempt to develop a correction to the level of 0.6610, from which a rebound can be expected and the pair will continue to fall with a potential target near the level of 0.6850. the pair will break down the 0.6520 area, in this case, we should expect continued growth and a possible change in the downward trend.