NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is still rebounding from Tenkan-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 0.6665 and then resume moving downwards to reach 0.6450. Another signal in favour 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 0.6845. In this case, the pair may continue growing towards 0.6935.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is rising within the bullish channel. In the daily chart, bulls have broken the high it reached early last year, so the next upside target is at 0.9900. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.9490 and then resume moving upwards to reach 0.9785. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.9375. In this case, the pair may continue falling towards 0.9285.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is testing the bullish channel’s upside border. Bulls have been able to fix the price above the resistance at 1.2670, so they can continue pushing it up to 1.2900. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 1.2620 and then resume moving upwards to reach 1.2885. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2520. In this case, the pair may continue falling towards 1.2415. To confirm a further uptrend, the price must break the descending channel’s upside border and fix above 1.2795 – bulls’ previous attempt to break it failed.
