Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move as part of the decline and the downward channel. Moving averages indicate the presence of a short-term bearish trend for the pair. At the time of the publication of the Forex forecast, the rate of the New Zealand Dollar to the US Dollar is 0.6333. At the moment, we should expect an attempt to develop growth and test the resistance level near the area of 0.6370. Further, within the framework of the forecast and Forex analytics for tomorrow, a rebound and an attempt to fall of the currency pair in the region below the level of 0.6230 is expected.
NZD/USD Forecast New Zealand Dollar September 19, 2019
In favor of the fall of the NZD/USD pair, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling quotes of the New Zealand Dollar on Forex will be a strong growth and the breakdown level of 0.6405. This will indicate a breakdown of the resistance area. In this case, the pair will continue to grow to the area above the level of 0.6485. Expect confirmation of the fall of the NZD/USD pair with the breakdown of the support area and closing of quotations below the level of 0.6285. This will indicate the exit of quotes beyond the rising channel.
Among the important news from New Zealand, which may affect the rate of the NZD/USD pair, it is worth highlighting: New Zealand Gross Domestic Product (GDP) q/q.
NZD/USD Forecast New Zealand Dollar September 19, 2019 suggests an attempt to test the support area near the level of 0.6370. Where can we expect continued growth of quotations in the region above the level of 0.6230. An additional signal in favor of growth will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option for the NZD/USD pair will be a fall and a breakdown of the level of 0.6405. In this case, we should expect continued decline in the pair with a potential target below the level of 0.6485.
