Currency pair quotes for the New Zealand Dollar against the US Dollar (NZD/USD) continue to move within the correction development phase and forming a reversal pattern “Wedge”. Moving averages point to the presence of a short-term upward trend in the currency pair. Prices broke through the area between signal lines upwards, indicating pressure from buyers of the currency pair and potential continuation of the instrument’s value increase from current levels. At the time of publishing the Forex forecast, the New Zealand Dollar rate against the US Dollar is 0.6001. Currently, one should expect an attempt to develop growth in quotes and testing the resistance level near the area 0.6050. Within the Forex market outlook for tomorrow, it is expected that prices will rebound downward and an attempt to develop a decline in the currency pair into the region below the level of 0.5785.
NZD/USD Forecast and Analysis for June 4, 2025
Additional indication for reducing the currency pair NZD/USD on Forex will be a test of the resistance line on the Relative Strength Index (RSI) indicator. The second signal in favor of this scenario is a bounce off the upper border of the reversal pattern “Wedge”. Cancellation of the option of price drops for New Zealand Dollar against the US Dollar on Forex will be strong growth and a breach of the level 0.6135. This will indicate a breakthrough of the resistance area and the upper boundary of the “Clamp” model. In this case, the pair will continue its development upward in the region above the level 0.6265. Wait for confirmation of the fall in the currency pair NZD/USD with the penetration of the support zone and closing prices below the level 0.5905, which will indicate a breakthrough of the lower boundary of the “Clamp” model and the beginning of implementing a pattern with goals downwards.
NZD/USD Forecast and Analysis for June 4, 2025 predicts a test of the resistance area near the level of 0.6050. From where we should expect continuation of price drops to an area below the level of 0.5785. An additional signal in favor of decreasing will be a bounce off the resistance line on the Relative Strength Index (RSI) indicator. Cancellation of the option for a drop in the NZD/USD pair would be a strong increase in price and breaking through the level of 0.6135. In this case, we should expect continuation of the pair’s rise with a potential target above the level of 0.6265.
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