Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move in the framework of the decline and the upward channel. Moving averages indicate the presence of a short-term bullish trend for the pair. At the time of publication of the Forex forecast, the rate of the New Zealand Dollar to the US Dollar is 0.6715. At the moment, we should expect an attempt to drop the pair and test the support level near the area of 0.6645. Further, within the framework of Forex analytics, an attempt is expected to continue the growth of the currency pair in the region above the level of 0.6820.
NZD/USD Forecast New Zealand Dollar July 25, 2019
The test of the rising trend line on the relative strength indicator will be in favor of the growth of the NZD/USD pair. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of growth options quotes the New Zealand Dollar on FOREX will fall and the breakdown level of 0.6620. This will indicate a breakdown of the lower boundary of the channel. In this case, the pair will continue to fall into the area below the level of 0.6525. Expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closure of quotations above 0.6765.
NZD/USD Forecast New Zealand Dollar July 25, 2019 implies an attempt to test the support area near the level of 0.6645. Where do we expect to continue the growth of quotations in the area above the level of 0.6820. An additional signal in favor of lifting will be the test of the support line on the relative strength indicator. Cancellation of the growth option of the pair NZD/USD will fall and the breakdown level of 0.6620. In this case, we should expect the pair to continue to decline with a potential target below the level of 0.6515.
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