Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of 0.6745. 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 0.6800 and continue falling below the level of 0.6450.
NZD/USD weekly forecast & analysis August 6 — 10, 2018
In favor of reducing the NZD/USD currency pair, a downtrend test on the relative strength index (RSI) will perform. The reversal of the fall variant will be a strong growth and breakdown of the area of 0.6950, which will indicate the breakdown of the upper border of the channel and the continued growth of the pair NZD/USD. Confirmation of the pair’s decline will be the breakdown of the support area and the closing of quotations below the area of 0.6665.
NZD/USD weekly forecast & analysis August 6 — 10, 2018 suggests a test of the resistance level near the 0.6800 area and the continuation of the fall of the NZD/USD pair into the area below the level of 0.6470, an additional signal in favor of the decline will be a bearish trend 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 0.6950.