Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the fall and the bearish channel. Moving averages indicate a short-term bearish trend for the pair. Quotes broke through the moving averages area, which may indicate pressure from buyers. At the time of publication of the Forex forecast, the New Zealand Dollar/US Dollar rate is 0.6580. At the moment, we should expect an attempt to continue the growth of the pair and the test of the resistance level near 0.6640. Further, in the framework of the Forex forecast, an attempt is expected to fall of the currency pair in the region below the level of 0.6405.
NZD/USD Forecast New Zealand Dollar June 12, 2019
In favor of reducing the pair NZD/USD test will perform a downward resistance line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option to reduce the quotes of the New Zealand Dollar on Forex will be a strong growth and the breakdown level of 0.6715. This will indicate a breakdown of the upper boundary of the downward channel. In this case, the pair will continue to grow to the area above the level of 0.6835. Expect to accelerate the decline of the pair is with the breakdown of the support area and closing quotes below the level of 0.6555.
Among the important news from New Zealand that may affect the NZD/USD pair rate, it is worth highlighting: New Zealand Electronic Card Retail Sales m/m.
NZD/USD Forecast New Zealand Dollar June 12, 2019 implies an attempt to test the resistance area near the level of 0.6640. Where can we expect the continuation of the fall in quotations to the area below the level of 0.6405. 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 0.6715. In this case, it is worth expecting the continuation of the rise of the pair with a potential target above 0.6835.