NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is testing the resistance area. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.6100 is expected, followed by a rise to 0.6245. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 0.6050, indicating a further decline to 0.5960. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the descending corrective channel, with the price establishing itself above 0.6145.
Origin: RoboForex
