Currency pair quotes for the New Zealand Dollar against the US Dollar (NZD/USD) continue within the scope of a correction development and bear channel. Moving averages indicate a short-term ascending trend on the pair. Prices are once again testing the area between signal lines, which indicates pressure from the buyers of the currency pair and potential continuation of price growth already at current levels. At the time of publishing the Forex forecast, the New Zealand Dollar to US Dollar exchange rate is 0.5909. Currently, it’s expected there will be an attempt for a decline development and testing the support level near the area of 0.5785. In the context of tomorrow’s Forex analysis and forecast, a price bounce up and an attempt for growth within the currency pair to above the level of 0.6055 is anticipated.
NZDUSD Forecast and Analysis for May 20, 2025
Additional confirmation of the growth in the currency pair NZD/USD on Forex will be a test of the support line on the Relative Strength Index (RSI) indicator. The second signal in favor of this scenario is a rebound from the lower boundary of the bullish channel. Cancellation of the option for rising quotes of New Zealand Dollar against the US dollar on Forex would occur with a drop in price and a breach of the level 0.5745. This will indicate breaking the support area and the bottom boundary of the ascending channel. In such a case, the pair will continue its development downwards to an area below the level 0.5535. Expectation of confirmation for growth in the NZD/USD currency pair should be with a break into the resistance zone and closing prices above the level 0.6005, which would indicate breaking through the upper boundary of the descending channel correction.
NZDUSD Forecast and Analysis for May 20, 2025 anticipates a test of the resistance area close to the level of 0.5785. From there, one should expect continuation of price drops into regions below the level of 0.6055. An additional signal in favor of depreciation would be testing the resistance line on the Relative Strength Index (RSI) indicator. Cancellation of the bearish scenario for the NZD/USD pair will come from a strong rise in prices and breaking through the level of 0.5745. In this case, one should anticipate further upward movement of the pair with a potential target above the level of 0.5535.
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