Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the correction and the descending channel. Moving averages indicate the presence of a short-term downtrend for the pair. At the time of publication of the Forex forecast, the New Zealand Dollar/US Dollar rate is 0.6520. At the moment, we should expect an attempt to grow the pair and test the resistance level near the area of 0.6535. Further, in the framework of the Forex forecast, an attempt to continue the decline in the currency pair to the region below the level of 0.6440 is expected.
NZD/USD Forecast New Zealand Dollar June 20, 2019
In favor of the fall of 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 quotations of the New Zealand Dollar on Forex will be a strong growth and the breakdown level of 0.6580. 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 0.6675. Expect to accelerate the decline of the pair stands with the breakdown of the support area and closing quotes below the level of 0.6465.
Among the important news from New Zealand, which may have an impact on the NZD/USD pair, it is worth highlighting: New Zealand Gross Domestic Product (GDP) q/q.
NZD/USD Forecast New Zealand Dollar June 20, 2019 implies an attempt to test the resistance area near the level of 0.6535. Where can we expect the continuation of the fall in quotations to the area below the level of 0.6440. 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 to reduce the pair NZD/USD will be a strong growth and the breakdown level of 0.6580. In this case, it is worth expecting the continuation of the rise of the pair with a potential target above 0.6675.
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