Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week near the 0.6725 area. The pair continues to move within the fall. Moving averages indicate a downward trend. At the moment, we should expect an attempt to grow and test the resistance area near the level of 0.6850. Then, the currency pair will continue to fall with a potential target below the level of 0.6405.
NZD/USD weekly forecast & analysis December 24 — 28, 2018
In favor of reducing the currency pair NZD/USD, a test of the downward trend line on the relative strength index (RSI) will be made. Cancellation of the option of falling quotations in the current trading week from December 24 — 28, 2018 will be a strong growth and a breakdown of the 0.7050 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 lower boundary of the channel and closing of quotations below the 0.6620 area.
NZD/USD weekly forecast & analysis December 24 — 28, 2018 involves an attempt to test the resistance level near the area of 0.6850. Further, the continuation of the fall of the pair NZD/USD to the area below the level of 0.6405. 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 NZD/USD quotes above the level of 0.7050. In this case, we should expect continued growth.
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