The New Zealand dollar against the US dollar (NZD/USD) continues to move within the framework of a decline and the beginning of a head and shoulders reversal pattern. Moving averages indicate a short-term uptrend for the pair. Prices have broken through the area between the signal lines downwards, indicating pressure from sellers of the currency pair and a potential continuation of the decline in the instrument’s value from current levels. At the time of publication of the Forex forecast, the New Zealand dollar to US dollar exchange rate is 0.5963. Now, we should expect an attempt to develop growth in quotes and a test of the resistance level near the 0.6005 area. Further, as part of the forecast and Forex analysis for tomorrow, we expect a downward price rebound and an attempt to develop a decline in the currency pair to an area below the 0.5885 level.
NZD/USD Forecast and Analysis for June 20, 2025
An additional signal in favor of a decline in the NZD/USD currency pair on Forex will be a test of the resistance line on the relative strength index (RSI). The second signal in favor of this scenario will be a rebound from the lower border of the “Head and Shoulders” reversal pattern. A strong price increase and a breakout of the 0.6055 level will cancel the option of a decline in the New Zealand dollar against the US dollar on Forex. This will indicate a breakout of the resistance area and the upper border of the “Head and Shoulders” pattern. In this case, the pair will continue to grow to an area above the 0.6245 level. Confirmation of the decline in the NZD/USD currency pair should be expected with a breakout of the support area and the closing of quotes below the level of 0.5925.
NZD/USD Forecast and Analysis for June 20, 2025, suggests an attempt to test the resistance area near the 0.6005 level. From there, we can expect the quotes to continue falling to an area below the 0.5885 level. An additional signal in favor of a decline will be a rebound from the resistance line on the relative strength indicator. A strong price increase and a breakout of the 0.6055 level will cancel the decline of the NZD/USD pair. In this case, we should expect the pair to continue rising with a potential target above the 0.6245 level.
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