Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of 0.6613. The pair continues to move within the bearish channel. At this point, we should expect an attempt to test the resistance area near the level of 0.6685 and continue the decline of the currency pair with a potential target below the level of 0.6355.
NZD/USD weekly forecast & analysis October 1 — 5, 2018
In favor of the fall of the currency pair NZD/USD, a trend line test will be performed on the relative strength indicator. The cancellation of the variant of falling quotations on the current trading week on October 1 — 5, 2018 will be a strong growth and breakdown of the area of 0.6750, which will indicate the breakdown of the upper border of the channel and the continued growth of the NZD/USD pair. Confirmation of the fall of the currency pair on Forex will break through the support area and the closing of quotations below the area of 0.6450.
NZD/USD weekly forecast & analysis October 1 — 5, 2018 assumes an attempt to test the resistance level near the area of 0.6685 and the continuation of the fall of the NZD/USD pair into the area below the level of 0.6355, an additional signal in favor of the decline will be a down trend line test on the relative strength index (RSI), the cancellation of the fall of the pair will result in strong growth and closing of the NZD/USD quotations above the level of 0.6750, in which case we should expect continued growth.
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