Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week near the 0.6745 area. The pair continues to move within the correction. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to fall and test the support area near the level of 0.6650. Then, the growth of the currency pair continues with a potential target above the level of 0.7085.
NZD/USD weekly forecast & analysis January 7 — 11, 2019
In favor of the growth of the NZD/USD currency pair, a test of the rising trend line on the relative strength index (RSI) will be made. Cancellation of the growth of quotations in the current trading week of January 7 — 11, 2019 will be the fall and the breakdown of the 0.6550 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the decline of the NZD/USD pair. Confirmation of the growth of the currency pair at Forex will be the breakdown of the resistance area and the closing of quotes above the 0.6850 area.
NZD/USD weekly forecast & analysis January 7 — 11, 2019 implies an attempt to test the support level near 0.6650. Further, the continued growth of the pair NZD/USD in the area above the level of 0.7085. An additional signal in favor of growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth of the pair will be the fall and closing of the NZD/USD quotes below the level of 0.6550. In this case, we should expect a further decline.