Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the growth and ascending channel. Moving averages indicate the presence of a short-term uptrend for the pair. At the time of publication of the Forex forecast, the New Zealand Dollar/US Dollar rate is 0.6609. At the moment, we should expect an attempt to grow the pair and test the resistance level near the area of 0.6625. Further, in the framework of the Forex forecast, an attempt is expected to continue reducing the currency pair to the area below the level of 0.6520.
NZD/USD Forecast New Zealand Dollar June 25, 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 resistance area. 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 0.6675. This will indicate a breakdown of the upper boundary of the downward channel. In this case, the pair will continue to grow in the area above the level of 0.6745. It is necessary to wait for confirmation of a decline in the pair with a breakdown of the lower boundary of the rising channel and closing of quotes below the level of 0.6565.
NZD/USD Forecast New Zealand Dollar June 25, 2019 implies an attempt to test the resistance area near the level of 0.6625. Where can we expect the continuation of the fall in quotations to the area below the level of 0.6520. 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 0.6675. In this case, it is worth expecting the continuation of the rise of the pair with a potential target above 0.6745.