Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of 0.7010. 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 0.7160 and continuation of the fall of the pair below the level of 0.6720.
NZD/USD weekly forecast May 7 — 11, 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 a breakdown of the support level and the closing of quotations below the area of 0.6950.
NZD/USD weekly forecast May 7 — 11, 2018 involves an attempt to test the resistance level near the area of 0.7160 and continue the fall of the NZD/USD pair into the area below the level of 0.6720, an additional signal in favor of the drop will be a resistance line test on the relative strength index (RSI), the cancellation of the pair’s growth option will result in strong growth and closing of the NZD/USD quotations above the level of 0.7250.
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