Currency pair quotations for the New Zealand Dollar against the US Dollar (NZD/USD) conclude the trading week with growth near the mark of 0.5901. Moving averages indicate a bearish trend on the pair. Prices have penetrated the area between signal lines upwards, suggesting pressure from buyers of the currency pair and potential continuation of growth already at current market levels. Currently, it is expected that an attempt to develop a bearish correction in the currency pair on Forex will occur with testing the resistance area near the level 0.6075. Then, a downward bounce and continued depreciation of the currency pair with a potential target below the level of 0.5645.
NZDUSD Weekly Forecast May 19 — 23, 2025
Additional evidence for the downfall of the currency pair NZD/USD will be a test of the resistance line on the Relative Strength Index (RSI indicator). Another signal is a rebound from the upper boundary of the bull channel. The cancellation of the option to drop the pair’s quotes for the current trading week of May 19-23, 2025, would be a strong rise and breaking through the area of 0.6215. This will indicate a break of resistance and continued growth of the NZD/USD pair with a potential target above the level of 0.6445. Confirmation of the downfall on Forex will be breaking through the support zone and closing quotes below the area of 0.5775, which would indicate a breakout of the lower boundary of the bullish correction channel.
NZDUSD Weekly Forecast May 19 — 23, 2025 suggests an attempt to develop a bullish correction and testing the resistance level near the area of 0.6075. Subsequently, continuation of the NZD/USD pair’s drop into the region below the level of 0.5645. An additional signal for the depreciation will be testing the trend line on the relative strength indicator. Cancellation of the down move option would be a strong rise with closing quotes NZD/USD above the level of 0.6215. In this case, one should expect continuation of the currency pair’s rise with target above the level of 0.6445.
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