Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the bearish channel. At this point, we should expect an attempt to test the upper border of the channel near the level of 0.7400 and continue falling to the area below the level of 0.7210.
NZD/USD forecast & technical analysis April 17, 2018
In favor of the fall of NZD/USD, the test will break through the support line on the indicator of relative strength. The cancellation of the New Zealand Dollar quotation will result in a strong growth and breakdown at the level of 0.7425, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of NZD/USD quotes. 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 0.7340.
NZD/USD forecast & technical analysis April 17, 2018 suggests an attempt to test the upper border of the channel near the level of 0.7400, from which it is expected to continue falling of quotations in the area below the level of 0.7210, an additional signal in favor of the fall will test the resistance line on the indicator of relative strength index (RSI), the abolition of the NZD/USD pair decline will be strong growth and breakdown at the level of 0.7425, in which case we should expect the pair to continue growing.
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