Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the correction. At the moment, we should expect a test of the resistance area near the level of 0.7250 and continuation of the fall in the area below the level of 0.7120.
NZD/USD forecast & technical analysis March 23, 2018
In favor of the fall of NZD/USD, a resistance line test will be performed on the indicator of relative strength index (RSI), as well as the formation of the bearish model «5-0». The cancellation of the New Zealand Dollar forex quotation will result in a strong growth and breakdown at the level of 0.7330, which will indicate the breakdown of the resistance area and the continued growth of NZD/USD quotations. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of quotations below the level of 0.7130.
NZD/USD forecast & technical analysis March 23, 2018 suggests a test of the resistance area near the level of 0.7250, from which it is expected to continue falling of quotations in the area below the level of 0.7120, an additional signal in favor of the drop will be a test of the resistance line on the indicator of strength index (RSI).
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