The New Zealand Dollar US Dollar NZD/USD Forex currency pair is trading at 0.7215 and continues to move within the bullish correction and bearish channel. The pair is trading below the lower edge of the Ichimoku Kinko Hyo indicator Cloud. This indicates the presence of a bearish trend in the New Zealand Dollar-US Dollar pair. As part of the NZD/USD Forex forecast for June 8, 2021. The lower border of the Ichimoku Kinko Hyo indicator Cloud is expected to test near the 0.7235 level. Where to expect an attempt to rebound and further fall of the NZD/USD pair. The target of such a movement on Forex is the area near the level of 0.6805.
An additional signal in favor of the fall of the NZD/USD currency pair will be a rebound from the resistance area. The second signal will be a rebound from the lower border of the bullish channel. Earlier, a weak signal was received for selling the New Zealand Dollar to the US Dollar. The signal was formed due to the intersection of signal lines at the level of 0.7270.
NZD/USD Forex signal for today, June 8, 2021
The cancellation of the option of falling quotes of the NZD/USD pair will be the breakdown of the upper border of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 0.7305 area. This option will indicate a bearish trend in favor of a bullish trend and the continuation of the pair's growth. Expect an acceleration in the fall of the NZD/USD quotes with a breakdown of the support area and a close below the 0.7105 level.
Thus, the NZD/USD Forex forecast for today, June 8, 2021, suggests an attempt to test the resistance level near the 0.7235 level. Where should we expect the currency pair to continue falling with a potential target near the level of 0.6805? The cancellation of the pair's decline option will be a breakdown of the 0.7305 area. This will indicate the continuation of the pair's rise in Forex with a goal above the level of 0.7445.