NZD/USD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7146; 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 0.7090 and then resume moving upwards to reach 0.7315. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.6975. In this case, the pair may continue falling towards 0.6895.
USD/CAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2518; 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 1.2545 and then resume moving downwards to reach 1.2315. Another signal in favor of a further downtrend will be a rebound from 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 1.2605. In this case, the pair may continue growing towards 1.2710.
Brent
Brent is trading at 66.36; 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 64.25 and then resume moving upwards to reach 72.25. Another signal in favor of a further uptrend will be a rebound from the upside border of the Triangle pattern; the target of the pattern materialization is at 69.40. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 61.85. In this case, the pair may continue falling towards 60.05. To confirm further growth, the asset must break the descending channel’s upside border and fix above 67.45.
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