NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is trading at 0.6749; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6775 and then resume moving downwards to reach 0.6630. Another signal in favour of a further downtrend will be a rebound from the rising channel’s downside 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. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.6705.
XAG/USD, “Silver vs US Dollar”
XAG/USD is trading at 22.56; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may the cloud’s downside border at 22.65 and then resume moving downwards to reach 21.75. Another signal in favour of a further downtrend will be a rebound from the neckline of a Head & Shoulders reversal pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 23.20. In this case, the pair may continue growing towards 24.10.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is trading at 0.7165; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7185 and then resume moving downwards to reach 0.7065. Another signal in favour of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7265. In this case, the pair may continue growing towards 0.7355. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.7135.
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