Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the bearish channel. At the time of publication of the forecast, the New Zealand Dollar rate to the US Dollar is 0.6564. At this point, we should expect an attempt to test the resistance level near the area of 0.6585 and continue falling to the area below the level of 0.6455.
NZD/USD forecast New Zealand Dollar September 18, 2018
In favor of reducing the pair NZD/USD, a trend line test will be performed on the relative strength index (RSI), as well as a test of the upper boundary of the channel. The cancellation of the New Zealand Dollar quotation will result in a strong growth and a breakdown at the level of 0.6625, which will indicate the breakdown of the resistance area and the continuation of the NZD/USD quotations rise above 0.6720. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of quotations below the level of 0.6535.
NZD/USD forecast New Zealand Dollar September 18, 2018 suggests an attempt of the resistance area test near the level of 0.6585, where we can expect to continue the decline of quotations in the area below 0.6455, an additional signal in favor of the fall will be a trend line test on the indicator of relative strength index (RSI).
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