Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move as part of the correction and the formation of the «Triangle» model. At the time of publication of the forecast, the rate of the New Zealand Dollar to the US Dollar is 0.6843. At the moment, we should expect an attempt to rise and test the resistance level near the area of 0.6860. Further, the continuation of the fall of the currency pair at FOREX in the area below the level of 0.6695.
NZD/USD Forecast New Zealand Dollar March 21, 2019
In favor of the fall of the pair NZD/USD will rebound from the downward trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper border of the «Triangle» model. Cancel the option of falling quotations of the New Zealand Dollar on Forex will be a strong growth and the breakdown level of 0.6920. This will indicate a breakdown of the resistance level. In this case, the pair will continue to rise to the area above the level of 0.7055. Waiting for confirmation of a decline in the pair is with the breakdown of the lower boundary of the «Triangle» model and closing of quotations below the level of 0.6745.
Among the important news from New Zealand that may affect the rate of the pair NZD/USD, it is worth highlighting: Gross domestic product (GDP) of New Zealand.
NZD/USD Forecast New Zealand Dollar March 21, 2019 implies an attempt to test the resistance area near the level of 0.6860. Where can we expect the continuation of the fall in quotations to the area below the level of 0.6695. An additional signal in favor of the fall is the test of the trend 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 0.6920. In this case, it is worth expecting the continuation of the rise of the pair with a potential target above 0.7065.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
