The NZD/USD is trading at 0.6767, below the Ichimoku cloud, which means there’s a downtrend forming. We expect a test of the lower cloud boundary at 0.6770, and then a fall to 0.6665 and below. This fall may be prevented in case price breaks out the upper boundary and closes above 0.6810, which will be a signal for a further rise to 0.6850 and above.
Conversely, the fall will be confirmed once the bottom boundary of the triangle pattern gets broken out and the price closes below 0.6720.
Orgin: RoboForex
