The quotes of the currency pair NZD/USD continue to move within the framework of growth development and the formation of the “Expanding Formation” model. The moving averages indicate the presence of a short-term bearish trend for the pair. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of the currency pair and potential continuation of the growth of the instrument’s value from the current levels. At the time of publication of the Forex forecast, the New Zealand Dollar to US Dollar exchange rate is 0.5695. At the moment, we should expect an attempt to develop growth and a test of the resistance level near the area of 0.5765. Further, within the framework of the forecast and Forex analytics for tomorrow, a price rebound downwards and an attempt to develop a fall in the currency pair to the area below the level of 0.5515 are expected.
NZDUSD Forecast and Analysis for February 19, 2025
An additional signal in favor of a decline in the NZD/USD currency pair on Forex will be a test of the trend line on the relative strength indicator (RSI). The second signal in favor of this scenario will be a rebound from the upper border of the “Expanding Formation” model. The cancellation of the option of falling New Zealand Dollar quotes in the US Dollar pair on Forex will be a strong price growth and a breakout of the 0.5795 level. This will indicate a breakout of the resistance area. In this case, the pair will continue to grow to the area above the 0.5975 level. Confirmation of the fall of the NZD/USD currency pair should be expected with a breakout of the support area and closing of quotes below the 0.5645 level.
NZDUSD Forecast and Analysis for February 19, 2025 suggests an attempt to test the support area near the 0.5765 level. Where should we expect the continuation of the growth of quotes to the area above the level of 0.5515. An additional signal in favor of the rise will be a test of the support line on the relative strength indicator. The cancellation of the growth option for the NZD/USD pair will be a fall in price and a breakout of the level of 0.5795. In this case, we should expect a continuation of the decline in the pair with a potential target below the level of 0.5975.
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