The currency pair quotes for the New Zealand Dollar against the US Dollar (NZD/USD) are continuing within the framework of a corrective development and a bear channel. Moving averages indicate the presence of a short-term bullish trend on the pair. Prices have pierced the area between signal lines upwards, indicating pressure from buyers of the currency pair and potential continuation of growth in the instrument’s value already at current levels. At the time of the Forex forecast publication, the New Zealand Dollar to US Dollar exchange rate is 0.5937. Currently, it should be expected a development of the bearish correction and testing the resistance level near the area 0.5965. Within tomorrow’s Forex forecast and analysis, an expectation of price reversal downwards and attempting a decline in the currency pair to an area below the level of 0.5745 is anticipated.
NZDUSD Forecast and Analysis for May 22, 2025
Additional indication of the fall in the currency pair NZD/USD on Forex will be a test of the resistance line on the Relative Strength Index (RSI) indicator. A second signal in favor of this scenario is a rebound from the upper boundary of the descending channel. Rejection of the downside scenario for the New Zealand Dollar quotations against the US Dollar on Forex would be characterized by strong price rise and break through the level 0.6065. This will indicate a breakout of the resistance area and the top boundary of the bearish channel. In this case, the pair will continue its development in the region above the level 0.6255. Waiting for confirmation of the fall in the NZD/USD currency pair should be with the breakthrough the support zone and closing quotations below the level 0.5775, which will indicate a breakout of the bottom boundary of the bull channel.
NZDUSD Forecast and Analysis for May 22, 2025, anticipate a test of the resistance area near the level of 0.5965. From which we should expect a continuation of price drop to the zone below the level of 0.5745. An additional signal in favor of decline would be testing the resistance line on the Relative Strength Index indicator. Cancellation of the option for a drop in the NZD/USD pair will be a strong price increase and breakthrough of the level of 0.6065. In this case, we should expect continuation of the rise in the pair with a potential target above the level of 0.6255.
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