Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.6162 and continues to move as part of the development of growth and a bullish channel. The pair is trading above the upper boundary of the Cloud of the Ichimoku Kinko Hyo indicator. This indicates a bullish trend for the New Zealand Dollar/US Dollar pair. Within the NZD/USD Forex forecast for March 13, 2024. A test of the signal line area of the Ichimoku Kinko Hyo indicator is expected near the level of 0.6155. Where can we expect an attempt to rebound upward and further growth of the NZD/USD pair. The target of such a movement on Forex is the area near the level of 0.6265.
New Zealand Dollar Forecast NZD/USD for March 13, 2024
An additional signal in favor of growth in the NZD/USD currency pair will be a rebound from the support area on the price chart. The second signal will be a rebound from the lower border of the bullish channel. Previously, a weak signal was received to buy the New Zealand Dollar/US Dollar pair. The signal was formed due to the intersection of signal lines at the level of 0.6185.
Cancellation of the option to increase quotes for the NZD/USD pair will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with quotes closing below the 0.6075 area. This option will indicate a change in the bullish trend in favor of a bearish trend and a continuation of the pair’s fall. Expect an acceleration in the growth of NZD/USD quotes with a breakdown of the resistance area and closing above the level of 0.6275, which will indicate a breakdown of the upper boundary of the bullish channel, and this is a signal for growth by the width of the channel.
New Zealand Dollar Forecast NZD/USD for March 13, 2024 suggests an attempt to test the support level near the level of 0.6155. Where can we expect continued growth of the currency pair with a potential target near the level of 0.6265. Cancellation of the option to raise the pair will be a breakdown of the 0.6075 area. This will indicate a continued decline in the pair on Forex with a potential target below the level of 0.5835.
