Currency pair New Zealand Dollar US Dollar NZD/USD is trading at 0.5918 and continues to move within the correction and bearish channel. The pair is trading inside the Cloud of the Ichimoku Kinko Hyo indicator. This indicates a sideways trend for the New Zealand Dollar/US Dollar pair. Within the NZD/USD Forex forecast for September 15, 2023. A test of the upper boundary of the Cloud of the Ichimoku Kinko Hyo indicator is expected near the level of 0.5925. Where can we expect an attempt to rebound downwards and further fall of the NZD/USD pair. The target of such a movement on Forex is the area near the level of 0.5765.
New Zealand Dollar Forecast NZD/USD for September 15, 2023
An additional signal in favor of a fall in the NZD/USD currency pair will be a rebound from the resistance area on the price chart. The second signal will be a rebound from the upper border of the bearish 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 0.5895.
Cancellation of the option of falling quotes for the NZD/USD pair will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with closing quotes above the area of 0.5965. This option will indicate a change in the sideways trend in favor of the bullish trend and continued growth of the pair. Expect an acceleration in the fall of NZD/USD quotes with a breakdown of the support area and closing below the level of 0.5845, which will indicate a breakdown of the lower boundary of the bullish correction channel.
New Zealand Dollar Forecast NZD/USD for September 15, 2023 suggests an attempt to test the resistance level near the level of 0.5925. Where can we expect the currency pair to continue to fall with a potential target near the level of 0.5765. Cancellation of the option to reduce the pair will be a breakdown of the 0.5965 area. This will indicate continued growth of the pair on Forex with a potential target above the level of 0.6185.