Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of 0.6641. The pair continues to move within the bearish trend. At the moment, we should expect an attempt to test the resistance area near the level of 0.6740 and continue the fall of the currency pair below the level of 0.6250.
NZD/USD weekly forecast & analysis August 27 — 31, 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 drop in quotes on the current trading week on August 27 — 31, 2018 will be a strong growth and breakdown of the area of 0.6840, 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 on Forex will be the breakdown of the support area and the closing of quotes below the area of 0.6525.
NZD/USD weekly forecast & analysis August 27 — 31, 2018 involves an attempt to test the resistance level near the area of 0.6700 and continue 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 be a down trend line 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, in which case we should expect continued growth.
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