Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move in the bearish channel. At the time of the publication of the forecast, the rate of the New Zealand Dollar to the US Dollar is 0.6538. At the moment, we should expect an attempt to test the resistance level near the 0.6565 area and the beginning of a fall into the area below the level of 0.6395.
NZD/USD forecast New Zealand Dollar October 16, 2018
The test of the trend line on the relative strength index (RSI) will be in favor of the fall of the NZD/USD pair. Cancellation of the option of falling New Zealand Dollar quotations on Forex will be a strong growth and a breakdown level of 0.6610, which will indicate a breakdown of the upper boundary of the channel and continued growth of NZD/USD quotes to the area above the level of 0.6745. Expect confirmation of a decline in the pair with the breakdown of the support area and closing of quotes below the level of 0.6485.
Among the important news from New Zealand that may affect the rate of the pair NZD/USD, it is worth highlighting: Consumer price index.
NZD/USD forecast New Zealand Dollar October 16, 2018 suggests an attempt to test the resistance area near the level of 0.6565, from which we can expect further reduction of quotations to the area below the level of 0.6395, the test of the trend line on the relative strength index (RSI) will cancel out, the option of reducing the pair NZD/USD will become a strong growth and the breakdown level of 0.6610, in this case, we should expect the pair to continue to grow.