Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the correction and formation of the «Triangle» model. At the moment, we should expect a test of the resistance area near the level of 0.7260 and continuation of the fall in the area below the level of 0.7100.
NZD/USD forecast & technical analysis April 3, 2018
In favor of the fall of NZD/USD, a resistance line test will be performed on the relative strength index (RSI). The cancellation of the New Zealand Dollar forex quotation will result in a strong growth and breakdown at the level of 0.7300, which will indicate the breakdown of the upper limit of the «Triangle» model and the continuation of the growth of NZD/USD quotes. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of quotations below the level of 0.7190.
NZD/USD forecast & technical analysis April 3, 2018 suggests a test of the resistance area near the level of 0.7260, from which it is expected to continue falling of quotations in the area below the level of 0.7100, an additional signal in favor of the drop will be a test of the resistance line on the indicator of relative strength index (RSI).