Ichimoku Cloud Analysis 20.07.2017 (AUD/USD, NZD/USD, USD/CAD)

AUD/USD

The AUD/USD pair is trading at 0.7916. The pair still trades above the Ichimoku Cloud, and this suggests a rising tendency on the market and a further rise. A test of the area of Ichimoku's signal lines is expected while a support area near 0.7855 can be tested also. Then the pair can resume rising above the 0.8040 level. If the lower edge of the Ichimoku Cloud is broken and price closes below 0.7735, this will be deemed as cancellation of further rise on the market. And this scenario will involve a downward move towards the 0.7645 area.

NZD/USD

The NZD/USD is trading at 0.7336. The pair still trades above the Ichimoku Cloud, and this suggests a rising tendency on the market and a further rise. A test of the upper edge of the Ichimoku Cloud near 0.7315 can be expected, and then price can move higher above 0.7405. If the lower edge of the Ichimoku Cloud is broken and price closes below 0.7275, this will be deemed as cancellation of further rise on the market. And this scenario will involve a downward move towards the 0.7205 area.

USD/CAD

The USD/CAD pair is trading at 1.2620. The pair keeps trading below the Ichimoku Cloud, and this suggests a downtrend on the market and a further downside move. A test of the area of Ichimoku's signal lines and a resistance area at 1.2680 can be expected. Then the pair can move higher towards the 1.2480 area. If the upper edge of the Ichimoku Cloud is broken and price closes above 1.2780, this will be deemed as cancellation of further downward move of the market. And this scenario will involve an upward move towards the 1.2950 area.