Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week near the 0.6788 area. The pair continues to move within the fall. Moving averages indicate a downward trend. At the moment, we should expect an attempt to test the resistance area near the level of 0.6920. Then the continuation of the fall of the currency pair with a potential target below the level of 0.6275.
NZD/USD weekly forecast & analysis December 17 — 21, 2018
In favor of reducing the currency pair NZD/USD, 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 December 17 — 21, 2018 will be a strong growth and the 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.
Among the important news from New Zealand, which may have an impact on the New Zealand dollar, it is worth highlighting: Changes in GDP.
NZD/USD weekly forecast & analysis December 17 — 21, 2018 implies an attempt to test the resistance level near the area of 0.6920. Further, the continuation of the fall of the pair NZD/USD to the area below the level of 0.6275. 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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