Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move as part of the growth and the bullish channel. Moving averages indicate the presence of a short-term bullish trend for the pair. Prices are above the area between the signal lines, which indicates the pressure from the bulls in the pair. At the time of the publication of the FOREX forecast, the rate of the New Zealand Dollar to the US Dollar is 0.6545. At the moment, we should expect an attempt to reduce and test the support level near the area of 0.6505. Further, within the framework of the forecast and Forex analysis for tomorrow, a rebound is expected and an attempt to continue the growth of the currency pair in the region above the level of 0.6675.
NZD/USD Forecast New Zealand Dollar December 11, 2019
In favor of the growth of the NZD/USD pair, a test of the ascending trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option for the New Zealand Dollar quotes on Forex will be a fall and a breakdown of the level of 0.6430. This will indicate a breakdown of the support area. In this case, the pair will continue to develop a fall into the area below the level of 0.6245. Expect confirmation of the growth of the NZD/USD pair with the breakdown of the resistance area and closing of quotations above the level of 0.6595.
Among the important news from New Zealand that may affect the rate of the NZD/USD pair, it is worth highlighting: New Zealand Electronic Card Retail Sales m/m.
NZD/USD Forecast New Zealand Dollar December 11, 2019 suggests an attempt to test the support area near the level of 0.6505. Where can we expect continued growth of quotations in the region above the level of 0.6675. An additional signal in favor of the rise will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option for the NZD/USD pair will be a fall and a breakdown of the level of 0.6430. In this case, we should expect a decrease in the pair’s rise with a potential target below the level of 0.6245.
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