Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week near the 0.6592 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 0.6610 and continue the decline in the currency pair with a potential target below the level of 0.6225.
NZD/USD weekly forecast & analysis October 22 — 26, 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. Canceling the option of falling quotations in the current trading week of October 22 — 26, 2018 will be a strong growth and a breakdown of 0.6670, 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 0.6470 area.
NZD/USD weekly forecast & analysis October 22 — 26, 2018 suggests an attempt to test the resistance level near 0.6610 and continue the fall of the NZD/USD pair to the area below 0.6225; cancellation of the fall of the pair will be a strong growth and closing of quotations of NZD/USD above the level of 0.6670, in this case, we should expect continued growth.
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