Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week near the 0.6512 area. The pair continues to move within the bearish channel. At the moment, we should expect an attempt to test the resistance area near the level of 0.6615 and continue the decline of the currency pair with a potential target below the level of 0.6185.
NZD/USD weekly forecast & analysis October 15 — 19, 2018
In favor of the fall of the currency pair NZD/USD, a test of the trend line on the indicator of relative strength index (RSI) will be made. Cancellation of the option of falling quotations in the current trading week on October 15 — 19, 2018 will be a strong growth and a breakdown of 0.6700, which will indicate a breakdown of the upper border of the channel and continued growth of the NZD/USD pair. Confirmation of the fall of the currency pair at Forex will be a breakdown of the support area and closing of quotes below the 0.6450 area.
Among the important news from New Zealand that could have an impact on the New Zealand Dollar rate, it is worth highlighting: Consumer price index.
NZD/USD weekly forecast & analysis October 15 — 19, 2018 suggests an attempt to test the resistance level near 0.6615 and continue the fall of the NZD/USD pair to the area below the level of 0.6185, the downward trend test on the relative strength index (RSI) will be an additional signal, cancellation of the fall of the pair will be a strong growth and closing of quotations of NZD/USD above the level of 0.6700, in this case, we should expect continued growth.