The NZD/USD currency pair continues its movement within the development of a decline and a downward channel. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices have broken through the area between the signal lines downward, indicating selling pressure on the currency pair and a potential continuation of the decline from current levels. At the time of the Forex forecast publication, the New Zealand Dollar to US Dollar exchange rate is 0.5600. At the moment, a bullish correction attempt and a test of the resistance level near 0.5655 are expected. Then, in the framework of the forecast and Forex analysis for tomorrow, a price rebound downward and a continuation of the decline in the currency pair towards 0.5465 are anticipated.
NZDUSD Forecast and Analysis for March 4, 2025
An additional signal in favor of the NZD/USD decline on Forex will be a test of the trend line on the Relative Strength Index (RSI). A second signal in favor of this scenario will be a rebound from the lower boundary of the bullish channel. The scenario for the New Zealand Dollar’s decline against the US Dollar on Forex will be invalidated by strong price growth and a breakout of 0.5825. This will indicate a breakout of the resistance area. In this case, the pair will continue its upward movement toward 0.5975. Confirmation of the NZD/USD decline should be expected with a breakdown of the support area and a close below 0.5535.
NZDUSD Forecast and Analysis for March 4, 2025 suggests an attempt to test the resistance area near 0.5655, from where a continuation of the decline to 0.5465 is expected. An additional signal in favor of the decline will be a test of the resistance line on the RSI indicator. The scenario will be invalidated by strong price growth and a breakout of 0.5825, which would indicate a continuation of the upward movement with a potential target above 0.5975.
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