Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move in the framework of the decline and formation of the «Triangle» model. At the time of publication of the forecast, the New Zealand Dollar rate to the US Dollar is 0.6747. At this point, we should expect an attempt to test the resistance level near the area of 0.6800 and continue falling to the area below the level of 0.6580.
NZD/USD forecast & technical analysis July 20, 2018
In favor of reducing the pair NZD/USD, the spinning model «Head and Shoulders» will be formed on the indicator of relative strength index (RSI). The cancellation of the New Zealand Dollar quotation will result in a strong growth and breakdown at the level of 0.6870, which will indicate the breakdown of the resistance area and the continuation of the growth of NZD/USD quotations to the area above the level of 0.7045. To expect confirmation of the fall of the pair is with the breakdown of the lower bound of the «Triangle» model and the closing of quotations below the level of 0.6720.
NZD/USD forecast & technical analysis July 20, 2018 suggests an attempt to test the resistance area near the level of 0.6800, 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 fall will be the shaping of the reversal model on the indicator of relative strength index (RSI).
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