Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week near the 0.6468 area. The pair continues to move within the descending channel. At the moment, we should expect an attempt to test the resistance area near the level of 0.6605 and continue to reduce the currency pair with a potential target below the level of 0.6155.
NZD/USD weekly forecast & analysis October 8 — 12, 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 of October 8 — 12, 2018 will be a strong growth and a breakdown of 0.6700, indicating 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 0.6400 area.
NZD/USD weekly forecast & analysis October 8 — 12, 2018 suggests an attempt to test the resistance level near 0.6605 and continue the fall of the NZD/USD pair to the area below 0.6155. 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.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
