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 0.6578. At the moment, we should expect an attempt to test the resistance level near the 0.6615 area and the beginning of the fall into the area below the level of 0.6445.
NZD/USD forecast New Zealand Dollar October 17, 2018
In favor of the fall of the pair NZD/USD, a test of the resistance area on the relative strength index (RSI) 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 0.6640, 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. It is necessary to wait for confirmation of the pair’s decline with the breakdown of the lower boundary of the bullish channel and closing of quotes below the level of 0.6525.
NZD/USD forecast New Zealand Dollar October 17, 2018 implies an attempt to test the resistance area near 0.6615, from which we can expect further decline in quotations to below 0.6445, 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 0.6640, in this case, we should expect the pair to continue to grow.