Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move as part of the decline 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 0.6386. At the moment, we should expect an attempt to develop a correction and test the resistance level near the area of 0.6405. Further, within the framework of the forecast and Forex analysis for tomorrow, an attempt is expected to continue the fall of the currency pair in the region below the level of 0.6235.
NZD/USD Forecast New Zealand Dollar September 6, 2019
A test of the trend line on the relative strength index (RSI) will be in favor of reducing the NZD/USD pair. 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 0.6445. This will indicate a breakdown of the upper boundary of the downward channel. In this case, the pair will continue to grow to the area above the level of 0.6595. Expect confirmation of a fall in the pair with the breakdown of the support area and closing of quotations below the level of 0.6295.
NZD/USD Forecast New Zealand Dollar September 6, 2019 suggests an attempt to test the resistance area near the level of 0.6405. Where can we expect the continuation of the fall in quotations to the area below the level of 0.6235. An additional signal in favor of reducing will be a test of the resistance line on the relative strength index (RSI). Cancellation of the option of falling NZD/USD pair will be a strong growth and the breakdown level of 0.6445. In this case, we should expect the pair to continue to rise with a potential target above the level of 0.6595.
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