Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move in the downward channel. At the time of publication of the forecast, the rate of the New Zealand Dollar to the US Dollar is 0.6529. At the moment, we should expect an attempt to test the resistance level near the 0.6555 area and the beginning of a fall into the area below the level of 0.6485.
NZD/USD forecast New Zealand Dollar November 1, 2018
In favor of the fall of the pair NZD/USD, a test of the trend line on the relative strength index (RSI), as well as the formation of the downward «Wolfe Wave» model, will come out. Cancellation of the option of falling New Zealand Dollar quotations on Forex will be a strong growth and a breakdown level of 0.6615, which will indicate a breakdown of the upper limit of the model and continued growth of NZD/USD quotes to the area above the level of 0.6745. Expect confirmation of a decline in the pair is with the breakdown of the support area and closing quotes below the level of 0.6515.
NZD/USD forecast New Zealand Dollar November 1, 2018 suggests an attempt to test the resistance area near the level of 0.6555, from which we can expect further reduction of quotations to the area below the level of 0.6485, a test of the trend line on the relative strength index (RSI) will cancel out the option of reducing the pair NZD/USD will be a strong increase and the breakdown level of 0.6615, in this case, we can expect continued growth of the pair.
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