Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the correction. At the time of publication of the forecast, the New Zealand Dollar rate against the US Dollar is 0.6714. At this point, we should expect an attempt to test the resistance level near the area of 0.6730 and continue falling to the area below the level of 0.6580.
NZD/USD forecast & technical analysis August 29, 2018
In favor of reducing the pair NZD/USD will test the resistance area on the indicator of relative strength index (RSI). The cancellation of the New Zealand Dollar forex quotation will result in a strong growth and a breakdown at the level of 0.6765, which will indicate a breakdown of resistance and the continuation of the NZD/USD quotations growth to the area above the level of 0.6850. To expect confirmation of the fall of the pair is with the breakdown of the lower border of the rising channel and the closing of quotations below the level of 0.6635.
NZD/USD forecast & technical analysis August 29, 2018 suggests an attempt to test the resistance area near the level of 0.6730, from which it is expected to continue the decline of quotations in the area below the level of 0.6580, an additional signal in favor of the drop will be a resistance test on the indicator of relative strength index (RSI).