Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week near the 0.6752 area. The pair continues to move within the correction. Moving averages indicate a downward trend. At the moment, we should expect an attempt to continue growth and test the resistance area near the level of 0.6840. Then, the currency pair will continue to fall with a potential target below the level of 0.6435.
NZD/USD Forecast and Analysis January 21 — 25, 2019
In favor of the fall of the NZD/USD currency pair, a test of the downward trend line on the relative strength index (RSI) will come out. Cancellation of the option of falling quotations in the current trading week of January 21 — 25, 2019 will be a strong growth and the breakdown of the area of 0.7065. This will indicate a breakdown of the upper boundary of the channel and continued growth of the pair NZD/USD. The confirmation of the decline in the currency pair at Forex will be the breakdown of the lower boundary of the bullish channel and the closing of quotations below the 0.6610 area.
Among the important news from New Zealand that may have an impact on the New Zealand Dollar rate, it is worth highlighting: Consumer price index.
NZD/USD Forecast and Analysis January 21 — 25, 2019 implies an attempt to test the resistance level near 0.6840. Further, the continuation of the fall of the pair NZD/USD to the area below the level of 0.6435. An additional signal in favor of reducing the test trend line on the indicator of relative strength index (RSI). Cancellation of the option of falling of the pair will be a strong growth and closing of NZD/USD quotes above the level of 0.7065. In this case, we should expect a continuation of the climb.