Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move as part of growth. At the time of the publication of the forecast, the rate of the New Zealand Dollar to the US Dollar is 0.6675. At the moment, we should expect an attempt to test the support level near 0.6610 and continue to grow to an area above the level 0.6785.
NZD/USD forecast New Zealand Dollar November 7, 2018
A test of the trend line on the relative strength index (RSI), as well as a rebound from the upper limit of the downward channel, will be in favor of the growth of the NZD/USD pair. Cancellation of the growth rate of the New Zealand Dollar Forex quotes will be a fall and a breakdown level of 0.6535, which will indicate a breakdown of the upper boundary of the channel and a continued decline in NZD/USD quotes to the area below the level of 0.6435. Expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closure of quotations above the level of 0.6715.
Among the important news from New Zealand that may affect the NZD/USD pair rate is the following: Unemployment rate, Change in the number of employees, Decision of the Reserve Bank of New Zealand at the basic interest rate, Accompanying statement of the Reserve Bank of New Zealand.
NZD/USD forecast New Zealand Dollar November 7, 2018 implies an attempt to test the support area near the level of 0.6610, from which one can expect the growth of quotations to the area above the level of 0.6785. An additional signal in favor of growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option of the pair NZD/USD will fall and the breakdown of the level of 0.6535, in this case, we should expect the pair to continue to decline.