Quotes of the New Zealand Dollar to US Dollar NZD/USD end the trading week near the 0.7091 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 0.7165. Then, a rebound and continuation of the fall of the currency pair with a potential target below the level of 0.6525.
NZD/USD Forecast and Weekly Analysis June 28 — July 2, 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 upper border of the ”Triangle” pattern. Cancellation of the option to drop the pair quotes in the current trading week June 28 — July 2, 2021 will be a strong growth and a breakdown of the 0.7535 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 0.8295. Confirmation of the fall of the currency pair on Forex will be a breakdown of the support area and closing of quotations below the 0.6745 area, which will indicate the completion of the formation of the ”Triangle” model.
NZD/USD Forecast and Weekly Analysis June 28 — July 2, 2021 suggests an attempt to test the resistance level near the 0.7165 area. Further, the continuation of the fall of the NZD/USD pair to the area below the level of 0.6525. 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 0.7535. In this case, we should expect a continuation of the rise with the target above the level of 0.8295.
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