AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7552; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7535 and then resume moving upwards to reach 0.7645. Another signal in favor of 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 0.7415. In this case, the pair may continue falling towards 0.7325.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7098; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7080 and then resume moving upwards to reach 0.7165. Another signal in favor of further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.7055. In this case, the pair may continue falling towards 0.6965. To confirm further growth, the asset must break the pattern’s upside border and fix above 0.7135.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 103.54; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 103.75 and then resume moving downwards to reach 102.65. Another signal in favor of 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 104.30. In this case, the pair may continue growing towards 105.25. To confirm further decline, the asset must break the descending channel’s downside border and fix below 103.05. In this case, to reach the next target, the asset must cover the distance equal to the width of the broken channel.
