The NZD/USD currency pair quotes continue to move within the framework of a decline and the beginning of the “Broadening Formation” pattern implementation. The moving averages indicate the presence of a short-term upward trend for the pair. Prices broke through the area between the signal lines downwards, indicating selling pressure on the currency pair and the potential continuation of the instrument’s price decline from current levels. At the time of the Forex forecast publication, the New Zealand Dollar to US Dollar exchange rate is 0.5682. Currently, a bullish correction attempt and a test of the resistance level near the 0.5725 area are expected. Further, as part of the forecast and Forex analytics for tomorrow, a price rebound downwards and an attempt to develop a decline in the currency pair into an area below the 0.5515 level are anticipated.
NZDUSD Forecast and Analysis for February 28, 2025
An additional signal in favor of the NZD/USD currency pair decline on Forex will be a trend line test on the Relative Strength Index (RSI). A second signal supporting this scenario will be a rebound from the upper boundary of the “Broadening Formation” reversal model. The bearish scenario for the New Zealand Dollar against the US Dollar on Forex will be canceled if the price rises strongly and breaks through the 0.5845 level. This will indicate a breakout of the resistance area. In this case, the pair will continue to rise into the area above the 0.5995 level. Confirmation of the NZD/USD currency pair’s decline should be expected with a support area breakdown and closing quotes below the 0.5635 level.
NZDUSD Forecast and Analysis for February 28, 2025 suggest an attempt to test the resistance area near the 0.5725 level. From there, a continuation of the quotes decline into the area below the 0.5515 level is expected. An additional signal for a decline will be a resistance line test on the Relative Strength Index. The bearish scenario for the NZD/USD pair will be canceled if the price rises sharply and breaks through the 0.5845 level. In this case, a further rise of the pair with a potential target above the 0.5995 level is expected.
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