NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7231; 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 0.7245 and then resume moving downwards to reach 0.7150. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7275. In this case, the pair may continue growing towards 0.7365. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.7195.
GBPJPY, “Great Britain Pound vs Japanese Yen”
GBPJPY is trading at 155.30; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 154.75 and then resume moving upwards to reach 156.75. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 154.05. In this case, the pair may continue falling towards 153.15. To confirm further growth, the asset must break the descending channel’s upside border and fix above 155.75.
AUDCAD, “Australian Dollar vs Canadian Dollar”
AUDCAD is trading at 0.9336; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9365 and then resume moving downwards to reach 0.9215. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.9385. In this case, the pair may continue growing towards 0.9475.
