The New Zealand dollar against the US dollar (NZD/USD) continues to move within the framework of an upward trend and the formation of a head and shoulders reversal pattern. Moving averages indicate a short-term bearish trend for the pair. Prices have broken through the area between the signal lines upwards, indicating pressure from buyers of the currency pair and a potential continuation of the instrument’s growth from current levels. At the time of publication of the Forex forecast, the New Zealand dollar to US dollar exchange rate is 0.5998. At the moment, we should expect an attempt at a bullish correction of quotes and a test of the resistance level near the 0.6045 area. Further, as part of the forecast and Forex analysis for tomorrow, a downward price rebound and an attempt to develop a decline in the currency pair to the area below the level of 0.5775 are expected.
NZDUSD Forecast and Analysis for July 23, 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 upper border of the “Head and Shoulders” reversal pattern. A strong price increase and a breakout of the 0.6135 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 bearish channel. In this case, the pair will continue to grow to an area above the 0.6285 level. Confirmation of a decline in the NZD/USD currency pair should be expected with a breakout of the support area and a close below the 0.5845 level, which would indicate a breakout of the lower boundary of the “Head and Shoulders” pattern.
NZDUSD Forecast and Analysis for July 23, 2025 suggests an attempt to test the resistance area near the 0.6045 level. From there, we can expect the quotes to continue falling to an area below the 0.5775 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 0.6135 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 0.6285 level.
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