Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the growth and bullish 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 0.6635. At the moment, we should expect an attempt to drop the pair and test the support level near the area of 0.6645. Further, in the framework of the Forex forecast, an attempt is expected to continue the growth of the currency pair in the region above the level of 0.6755.
NZD/USD Forecast New Zealand Dollar June 27, 2019
A test of the upward support line on the relative strength index (RSI) will be in favor of the rise 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 0.6605. This will indicate a breakdown of the lower boundary of the bullish channel. In this case, the pair will continue to fall into the area below the level of 0.6505. It is worth waiting for the confirmation of the pair growth with the breakdown of the resistance area and closing of quotes above the level of 0.6710.
NZD/USD Forecast New Zealand Dollar June 27, 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 0.6755. An additional signal in favor of lifting will be the test of the support line on the relative strength index (RSI). Cancellation of the growth option of the pair NZD/USD will fall and the breakdown level 0.6605. In this case, we should expect a continuation of the decline of the pair with a potential target below 0.6710.