Technical analysis and FOREX forecast NZD/USD

news_22_feb_nzd_usd_2NZDUSD is trading at 0.6225; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6275 and then resume moving downwards to reach 0.6080. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border.

However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6385. In this case, the pair may continue growing towards 0.6475.

NZDUSD

Orgin: RoboForex

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