Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of 0.7229. The pair continues to move within the framework of the formation of the «Triangle» model. At the moment, we should expect a test of the resistance area near the level of 0.7350 and the continuation of the fall of the pair below the level of 0.7050.
NZD/USD weekly forecast on March 5 — 9, 2018
In favor of the fall of NZD/USD, a trend line test will be performed on the relative strength index (RSI). The cancellation of the fall option will be a strong growth and breakdown of the area of 0.7450, which will indicate the breakdown of the resistance area and the continued growth of the NZD/USD pair. Confirmation of the pair’s decline will be a breakdown of the lower limit of the «Triangle» model and the closing of quotations below the area of 0.7130.
NZD/USD weekly forecast on March 5 — 9, 2018 involves an attempt to test the resistance level near the area of 0.7340 and continue the fall of the NZD/USD pair into the area below the level of 0.7050, an additional signal in favor of the fall will be a test of the trend line on the indicator of relative strength index (RSI), the cancellation of the fall of the pair will be strong growth and closing above the level of 0.7450.
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