AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7176; 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 0.7180 and then resume moving downwards to reach 0.6995. Another signal in favour of a further downtrend will be a rebound from the resistance level and the completion of the Wedge reversal pattern. 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.
BRENT
Brent is trading at 81.42; 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 80.20 and then resume moving upwards to reach 86.75. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 76.05. In this case, the pair may continue falling towards 72.05.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6763; 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 0.6780 and then resume moving downwards to reach 0.6645. Another signal in favour of a further downtrend will be a rebound from the 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 0.6825. In this case, the pair may continue growing towards 0.6915. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.6705.
