Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the framework of the bullish «5-0» model. At the time of publication of the forecast, the rate of the New Zealand Dollar against the US dollar is 0.6610. At this point, we should expect a test of the support level test near the 0.6600 area and the beginning of growth in the area above the level of 0.6685.
NZD/USD forecast New Zealand Dollar October 2, 2018
In favor of the growth of the pair NZD/USD, a trend line test will be performed on the relative strength index (RSI), as well as a rebound from the lower boundary of the rising channel. Cancellation of the variant of the New Zealand dollar growth on Forex will be the fall and breakdown at the level of 0.6565, which will indicate the breakdown of the lower border of the channel and the continuation of the reduction of NZD/USD quotations to the area below the level of 0.6490. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing of quotations above the level of 0.6630.
NZD/USD forecast New Zealand Dollar October 2, 2018 suggests an attempt to test the support area near the level of 0.6615, where it is expected to continue the growth of quotations to the area above 0.6685, an additional signal in favor of growth will test the trend line on the indicator of relative strength index (RSI).
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