FX.co ★ Ichimoku cloud analysis of NZDUSD

NZDUSD is in a bullish trend. Price continues making higher highs and higher lows and now it has reached as high as 0.7310. Using the Ichimoku cloud indicator we see that price remains above the Kumo (cloud) and continues to respect the kijun-sen indicator.

NZDUSD is now above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). The Chikou span (black line indicator) is well above the candlestick pattern. All signs confirm the bullish trend NZDUSD is in. Support is found at 0.7250-0.7230. Breaking below this level will be the first warning sign of a deeper pull back. Until then bulls remain in control of the trend. Today price challenged the tenkan-sen and so far price is bouncing off the red line indicator(tenkan-sen).