Quotes of the currency pair New Zealand Dollar against the US Dollar NZD/USD currency pair are ending the trading week with growth near the 0.5721 level. Moving averages indicate a bearish trend for the pair. Prices have broken through the area between the signal lines, which indicates pressure from sellers of the currency pair and a potential continuation of the fall from the current levels on the market. At the moment, we should expect an attempt to develop a bullish correction of the currency pair on Forex and a test of the resistance area near the level of 0.5805. Then, a rebound downwards and a continuation of the fall of the currency pair with a potential target below the level of 0.5345.
NZD/USD Weekly Forecast March 17 — 21, 2025
An additional signal in favor of the growth of the NZD/USD currency pair will be a test of the support line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of a fall in quotes of the pair in the current trading week of March 17 — 21, 2025 will be strong growth and a breakout of the 0.5955 area. This will indicate a breakout of the resistance area and continued growth of the NZD/USD pair with a potential target above the level of 0.6175. The fall of the currency pair on Forex will be confirmed by a breakout of the support area and closing of quotes below the 0.5525 area, which will indicate a breakout of the lower boundary of the bullish correction channel.
NZD/USD Weekly Forecast March 17 — 21, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 0.5805 area. Further, the continuation of the fall of the NZD/USD pair to the area below the 0.5345 level. An additional signal in favor of the decline will be a test of the trend line on the relative strength indicator. The cancellation of the fall option for the pair will be a strong growth of closing of NZD/USD quotes above the 0.5955 level. In this case, we should expect a continuation of the rise of the currency pair with a target above the 0.6175 level.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
