Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move as part of the correction and the bearish 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 0.6302. At the moment, we should expect an attempt to develop an upward correction and a test of the resistance level near the area of 0.6335. Further, within the framework of FOREX forecast and analytics for tomorrow, a rebound is expected and an attempt to continue the fall of the currency pair in the area below the level of 0.6095.
NZD/USD Forecast New Zealand Dollar September 25, 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 0.6375. 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 0.6495. 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 0.6205.
Among the important news from New Zealand that may affect the rate of the NZD/USD pair, it is worth highlighting: Reserve Bank of New Zealand Interest Rate Decision decision.
NZD/USD Forecast New Zealand Dollar September 25, 2019 suggests an attempt to test the support area near the level of 0.6335. Where can we expect continued growth of quotations in the region above the level of 0.6095. 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 0.6375. In this case, we should expect continued decline in the pair with a potential target below the level of 0.6495.
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