Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move as part of a strong growth and a downward channel. Moving averages indicate a short-term bearish trend for the pair. However, prices have broken through the area between the signal lines upward, which indicates pressure from buyers of the currency pair and a potential continuation of the rise in the value of the instrument from the current levels. At the time of the publication of the Forex forecast, the rate of the New Zealand Dollar to the US Dollar is 0.7162. At the moment, we should expect an attempt to develop a fall and a test of the support level near the 0.7065 area. Further, as part of the forecast and Forex analytics for tomorrow, an upward rebound is expected and an attempt to continue raising the currency pair to the area above the level of 0.7310.
NZD/USD Forecast New Zealand Dollar April 16, 2021
An additional signal in favor of raising the NZD/USD currency pair on Forex will be a test of the support line on the relative strength index (RSI). The second signal in favor of growth will be a rebound from the lower border of the bullish channel. Cancellation of the option to raise the New Zealand Dollar quotes on Forex will be a fall and a breakdown of the level of 0.6995. This will indicate a breakdown of the support area and the lower border of the channel. In this case, the pair will continue to develop falling to the area below the level of 0.6785. It is worth waiting for confirmation of a rise in the NZD/USD currency pair with the breakdown of the resistance area and closing of quotations above the level of 0.7225.
NZD/USD Forecast New Zealand Dollar April 16, 2021 imply an attempt to test the support area near the level of 0.7065. Where can we expect the continued growth of quotations to the area above the level of 0.7310. An additional signal in favor of the rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for the NZD/USD pair will be a price drop and a breakdown of the level of 0.6995. In this case, we should expect the pair to continue to decline with a potential target below the level of 0.6785.
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