Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move in the downward channel. At the time of the publication of the forecast, the rate of the New Zealand Dollar to the US Dollar is 0.6541. 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 0.6425.
NZD/USD forecast New Zealand Dollar October 31, 2018
In favor of the fall of the pair NZD/USD, a test of the trend line on the relative strength index (RSI), as well as the formation of the downward «Wolfe Wave» model, 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 0.6595, which will indicate a breakdown of the upper limit of the model and continued growth of NZD/USD quotes to the area above the level of 0.6745. It is necessary to wait for confirmation of a decline in the pair with the breakdown of the support area and closing of quotes below the level of 0.6505.
NZD/USD forecast New Zealand Dollar October 31, 2018 implies an attempt to test the resistance area near 0.6565, from which we can expect further decline in quotations to below 0.6425, 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 0.6595, in this case, we should expect the pair to continue to grow.