NZD/USD forecast for January 12

usd-nzdThe NZD/USD pair is trading at 0.7250; the instrument is still moving above Ichimoku Cloud, which means that it may continue growing. We should expect the price to test Tenkan-Sen and Kijun-Sen at 0.7225 and then continue moving upwards to reach 0.7350. Another signal to confirm further ascending movement is the price’s rebounding from the downside border of the rising channel.

However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7120. In this case, the pair may continue falling towards 0.7030.

NZDUSD

Orgin: RoboForex

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