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 resistance level near the area of 0.6745 and continue falling to the area below the level of 0.6630.
NZD/USD forecast & technical analysis July 3, 2018
In favor of the fall of NZD/USD, a test of the broken trend line will appear on the indicator of relative strength index (RSI). The cancellation of the New Zealand Dollar quotation will result in a strong growth and a breakdown at the level of 0.6760, which will indicate the breakdown of the resistance area and the continuation of the NZD/USD quotations growth in the area above the level of 0.6810. To expect confirmation of the fall is with the breakdown of the lower border of the channel and the closing of quotations below the level of 0.6685.
NZD/USD forecast & technical analysis July 3, 2018 suggest a test of the resistance area near the level of 0.6745, from which it is expected to continue falling of quotations in the area below the level of 0.6630, an additional signal in favor of the drop will be a test of the resistance line on the indicator of relative strength index (RSI).
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