Quotes of the New Zealand Dollar to US Dollar NZD/USD end the trading week near the 0.6951 area. Moving averages indicate a bullish trend for the pair. Prices are testing the area between the signal lines, which indicates pressure from buyers of the currency pair and a potential continuation of growth from the current levels in the market. At the moment, we should expect an attempt at a bullish correction of the currency pair on Forex and a test of the resistance area near the level of 0.7195. Then, a rebound and continuation of the fall of the currency pair with a potential target below the level of 0.5955.
NZD/USD Forecast and Weekly Analysis July 5 — 9, 2021
An additional signal in favor of the fall of the NZD/USD currency pair will be a test of the downtrend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to drop the pair quotes in the current trading week July 5 — 9, 2021 will be a strong growth and a breakdown of the 0.7485 area. This will indicate a breakdown of the resistance area and a continued rise in the NZD/USD pair with a potential target above the level of 0.8325. Confirmation of the fall of the currency pair on Forex will be a breakdown of the support area and closing of quotations below the 0.6755 area.
NZD/USD Forecast and Weekly Analysis July 5 — 9, 2021 suggests an attempt to test the resistance level near the 0.7195 area. Further, the continuation of the fall of the NZD/USD pair to the area below the level of 0.5955. An additional signal in favor of the fall will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to drop the pair will be a strong growth and closing of the NZD/USD quotes above the level of 0.7485. In this case, we should expect a continuation of the rise with the target above the level of 0.8325.
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