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 upper border of the channel near the area of 0.6875 and continue falling into the area below the level of 0.6780.
NZD/USD forecast & technical analysis June 27, 2018
In favor of the fall of NZD/USD, a resistance line test will be performed on the 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 0.6925, which will indicate the breakdown of the resistance area and the continuation of the NZD/USD quotations rise above 0.6970. To expect confirmation of the fall is with the breakdown of the support area and the closing of quotations below the level of 0.6815.
NZD/USD forecast & technical analysis June 27, 2018 suggests an attempt to test the resistance area near the level of 0.6875, where it is expected to continue falling quotations in the area below the level of 0.6780, an additional signal in favor of the fall will test the resistance line on the indicator of relative strength index (RSI), the NZD/USD pair’s decline will be a strong growth and a breakdown at the level of 0.6925, in which case we should expect the pair to continue growing.
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