Ichimoku Cloud Analysis: GBP/USD, NZD/USD, USD/CAD
|AUD/USD
The AUD/USD is being traded at 0.7804 level. The pair keeps trading above the Ichimoku Cloud and this suggests an ascending trend and further rise. There is a strong possibility that the area of strong signal lines of the Ichimoku indicator can be tested around the 0.7755 level, and after that the price can rise further towards 0.7880. If the lower edge of Ichimoku Cloud is broken through and price closes under 0.7640, this will interrupt the uptrend. The pair can then move lower towards 0.7575 area.
NZD/USD
The NZD/USD pair is being traded at 0.7325 level. The pair keeps trading above the Ichimoku Cloud and this suggests an ascending trend and further rise. A test of the edge of Ichimoku Cloud around 0.7295 can be expected, and after that the price can continue rising towards 0.7400. If the lower edge of Ichimoku Cloud is broken through and price closes under 0.7260, this will interrupt the uptrend. The pair can then move lower towards 0.7165 area.
USD/CAD
The USD/CAD is being traded at 1.2666 level. The pair keeps moving under the Ichimoku Cloud. Such behavior suggests a downtrend and further downside move on this market. A test of the Ichimoku's area of signal lines at 1.2765 can be expected. If this occurs, the pair can move lower towards 1.2530. If the upper edge of Ichimoku Cloud is broken through and price closes above 1.2850, this will interrupt the uptrend. The pair can then move higher towards 1.3040 level.
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