Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week near the 0.6863 area. The pair continues to move in growth. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to test the resistance area near the level of 0.6930. Then, the currency pair will continue to fall with a potential target below the level of 0.6525.
NZD/USD weekly forecast & analysis December 10 — 14, 2018
In favor of reducing the NZD/USD currency pair, a test of a broken trend line on the relative strength index (RSI) will be made. Cancellation of the option of falling quotations in the current trading week of December 10 — 14, 2018 will be a strong growth and a breakdown of the 0.7160 area. This will indicate a breakdown of the upper boundary of the channel and continued growth of the pair NZD/USD. Confirmation of the fall of the currency pair at FOREX will be a breakdown of the support area and closing of quotes below the 0.6720 area.
NZD/USD weekly forecast & analysis December 10 — 14, 2018 implies an attempt to test the resistance level near the area of 0.6930. Further, the continuation of the fall of the pair NZD/USD to the area below the level of 0.6525. An additional signal in favor of reducing the test trend line on the indicator of relative strength index (RSI). Cancellation of the option of falling of the pair will be a strong growth and closing of the NZD/USD quotes above the level of 0.7160. In this case, we should expect continued growth.
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