Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the bearish channel. At the time of publication of the forecast, the rate of the New Zealand Dollar against the US Dollar is 0.6766. At this point, we should expect an attempt to test the support level near the area of 0.6745 and continue growth in the area above the level of 0.6870.
NZD/USD forecast & technical analysis July 5, 2018
In favor of the growth of NZD/USD, a test of a broken trend line will be performed on the indicator of relative strength index (RSI), as well as the formation of an inverted «Head and Shoulders» model. Cancellation of the variant of the New Zealand Dollar growth on Forex will be the fall and breakdown at the level of 0.6710, which will indicate the breakdown of the support area and the continuation of the NZD/USD quotations fall below 0.6610. To expect confirmation of the growth of the pair is with the breakdown of the upper border of the channel and the closing of quotes above the level of 0.6785.
NZD/USD forecast & technical analysis July 5, 2018 suggest an attempt to test the support area near the level of 0.6745, where it is expected to continue the growth of quotations to the area above 0.6870, an additional signal in favor of growth will test the support line on the indicator of relative strength index (RSI).
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