Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week near the 0.6697 area. The pair continues to move within the fall. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to grow and test the resistance area near the level of 0.6820. Then, the currency pair will continue to fall with a potential target below the level of 0.6445.
NZD/USD forecast & analysis December 31 — January 4, 2019
In favor of reducing the currency pair NZD/USD, a test of the downward trend line on the relative strength index (RSI) will be made. Cancellation of the option of falling quotations in the current trading week December 31 — January 4, 2019 will be a strong growth and the breakdown of the area of 0.6930. This will indicate a breakdown of the resistance area and continued growth of the NZD/USD pair. Confirmation of the fall of the currency pair at Forex will be a breakdown of the lower boundary of the channel and closing of quotations below the 0.6600 area.
NZD/USD forecast & analysis December 31 — January 4, 2019 implies an attempt to test the resistance level near 0.6820. Further, the continuation of the fall of the pair NZD/USD to the area below the level of 0.6445. An additional signal in favor of reducing the test trend line on the indicator of relative strength index (RSI). Cancellation of the fall of the pair will be a strong growth and closing of the NZD/USD quotes above the level of 0.6930. In this case, we should expect continued growth.