Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of 0.6973. The pair continues to move in a bearish trend. At the moment, we should expect a test of the resistance area near the level of 0.7150 and continuation of the fall of the pair below the level of 0.6650.
NZD/USD weekly forecast May 14 — 18, 2018
In favor of the fall of NZD/USD, a resistance line test will be performed on the relative strength index (RSI). The cancellation of the fall variant will be a strong and breakdown of the area of 0.7250, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of the NZD/USD pair. Confirmation of the fall of the pair will be the breakdown of the lower boundary of the «Triangle» model and the closing of quotations below the area of 0.6850.
NZD/USD weekly forecast May 14 — 18, 2018 involves an attempt to test the resistance level near the area of 0.7150 and continuation of the fall of the NZD/USD pair into the area below the level of 0.6650, an additional signal in favor of the fall will be a resistance 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 0.7250.
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