Currency pair quotations for the New Zealand Dollar against the US Dollar (NZD/USD) are continuing within a drop and bull channel development. Moving averages indicate the presence of a short-term upward trend on the currency pair. Prices are once again testing the area between signal lines, which indicates pressure from buyers of the currency pair and potential continuation of growth in the instrument’s price already from current levels. At the time of the Forex forecast publication, the New Zealand Dollar to US Dollar exchange rate is 0.5964. Currently, there should be an expectation of a bearish correction development and testing the resistance level close to the area 0.5995. Within tomorrow’s Forex forecast and analysis, it is expected that prices will bounce down and attempt to develop a decline in the currency pair region below the 0.5805 level.
NZD/USD Forecast and Analysis for May 29, 2025
Additional indication for the reduction of the currency pair NZD/USD on Forex would be testing the resistance line on the Relative Strength Index (RSI) indicator. The second signal in favor of this scenario is a rebound from the upper border of the reversal pattern “Head and Shoulders”. Cancellation of the option of reducing quotations of New Zealand Dollar against USD on Forex will be a strong price increase and a break above the level 0.6065. This would indicate a breakout of the resistance area and the top boundary of the bearish channel. In that case, the pair will continue to develop an upward trend in the area above the level 0.6275. To expect confirmation of the fall of the NZD/USD currency pair, await a breakthrough of the support zone and closing quotes below the level 0.5875, which would indicate a breakout of the bottom boundary of the bullish channel and the start of implementing the pattern with targets downwards.
NZD/USD Forecast and Analysis for May 29, 2025 predicts a test of the resistance area near the level of 0.5995. From there, we should expect a continuation of price drops into the zone below the 0.5805 level. An additional signal in favor of decline would be a bounce off the resistance line on the Relative Strength Index (RSI) indicator. Cancellation of the NZD/USD pair drop scenario will be a strong rise in price and a breakthrough the level of 0.6065. In this case, we should expect continuation of the pair’s rise with a potential target above the 0.6275 level.
