Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move as part of the correction and the beginning of the development of the «Triangle» model. At the time of the publication of the forecast, the rate of the New Zealand Dollar to the US Dollar is 0.6768. At the moment, we should expect an attempt to grow and test the resistance level near the area of 0.6810. Further, the continuation of the fall of the currency pair at Forex in the area below the level of 0.6620.
NZD/USD Forecast New Zealand Dollar April 16, 2019
In favor of the fall of the pair NZD/USD will rebound from the downward trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the «Triangle» model. Cancel the option of falling quotations of the New Zealand Dollar on Forex will be a strong growth and the breakdown level of 0.6840. This will indicate a breakdown of the upper boundary of the downward channel. In this case, the pair will continue to grow in the area above the level of 0.6905. Expect confirmation of a decline in the pair with the breakdown of the support area and closing of quotes below the level of 0.6705.
NZD/USD Forecast New Zealand Dollar April 16, 2019 implies an attempt to test the resistance area near the level of 0.6810. Where can we expect the continuation of the fall in quotations to the area below the level of 0.6620. An additional signal in favor of the fall will be the test of the resistance line on the relative strength index (RSI). Cancellation of the option of reducing the pair NZD/USD will be a strong growth and the breakdown level of 0.6840. In this case, it is worth expecting the continuation of the rise of the pair with a potential target above 0.6905.