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 0.6765 and continue falling to the area below the level of 0.6580.
NZD/USD forecast & technical analysis July 4, 2018
In favor of the fall of NZD/USD, a downtrend test on the relative strength index (RSI) indicator will perform. The cancellation of the New Zealand Dollar forex quotation will result in a strong growth and breakdown at the level of 0.6790, 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 0.6870. 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 4, 2018 suggests an attempt to test the resistance area near the level of 0.6765, from which it is expected to continue falling quotations in the area below the level of 0.6580, an additional signal in favor of the drop will test the resistance line on the indicator of relative strength index (RSI), the NZD/USD pair is likely to decline strongly and the breakdown at 0.6790, in which case we should expect the pair to continue growing.
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