Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of 0.6585. The pair continues to move in a bearish trend. At this point, we should expect an attempt to test the resistance area near the level of 0.6680 and continue falling below the level of 0.6270.
NZD/USD weekly forecast & analysis August 13 — 17, 2018
In favor of reducing the currency pair NZD/USD, a downtrend test on the relative strength index (RSI) will perform. The cancellation of the fall option will result in a strong growth and breakdown of the area of 0.6780, which will indicate the breakdown of the upper border of the channel and the continued growth of the NZD/USD pair. Confirmation of the pair’s decline will be the breakdown of the support area and the closing of quotations below the area of 0.6525.
NZD/USD weekly forecast & analysis August 13 — 17, 2018 suggests an attempt to test the resistance level near the 0.6680 area and the continuation of the fall of the NZD/USD pair into the area below the level of 0.6270, an additional signal in favor of the decline will come from the downtrend test on the relative strength index (RSI), the cancellation of the fall of the pair will result in strong growth and closing of the NZD/USD quotations above the level of 0.6780.