NZD/USD Forecast. Ichimoku Cloud Analysis 16.10.2020

nzd_newsNZDUSD is trading at 0.6587; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6600 and then resume moving downwards to reach 0.6440. Another signal in favor of further downtrend will be a breakout of the rising channel’s downside border and a fixation below 0.6545.

However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.6655. In this case, the pair may continue growing towards 0.6745.

NZDUSD

Orgin: RoboForex

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