Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week near the 0.6860 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 0.6940. Then, the currency pair will continue to fall with a potential target below the level of 0.6480.
NZD/USD weekly forecast & analysis December 3 — 7, 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 from December 3 — 7, 2018 will be 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 3 — 7, 2018 implies an attempt to test the resistance level near the 0.6940 area. Further, the continuation of the fall of the pair NZD/USD to the area below the level of 0.6480. An additional signal in favor of reducing the test trend line on the indicator of relative strength index (RSI). Cancellation of the fall of the pair will be a strong growth and closing of quotations of NZD/USD above the level of 0.7160. In this case, we should expect continued growth.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
