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 0.6522. At the moment, we should expect an attempt to test the resistance level near the 0.6545 area and the beginning of a fall into the area below the level of 0.6450.
NZD/USD forecast New Zealand Dollar October 26, 2018
The test of the broken trend line on the relative strength index (RSI), as well as the test of the broken channel boundary, will be in favor of the NZD/USD pair fall. Cancellation of the option of falling New Zealand Dollar quotations on Forex will be a strong growth and a breakdown level of 0.6605, which will indicate a breakdown of the upper boundary of the channel and the 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 0.6480.
NZD/USD forecast New Zealand Dollar October 26, 2018 suggests an attempt to test the resistance area near 0.6545, from which we can expect further decline in quotations to below 0.6450, a test in trend indicator on the relative strength index (RSI) will be a drop in the option of reducing the pair NZD/USD will become a strong growth and the breakdown level of 0.6605, in this case, we should expect the pair to continue growing.