Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the correction. At this point, we should expect an attempt to test the upper limit of the downlink near the level of 0.7290 and continue falling to the area below the level of 0.7040.
NZD/USD forecast & technical analysis April 6, 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 quotation will result in a strong growth and breakdown at the level of 0.7345, which will indicate the breakdown of the upper border of the channel 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 6, 2018 suggests an attempt to test the upper limit of the bearish channel near the level of 0.7290, from which it is expected to continue falling of quotations in the area below the level of 0.7040, an additional signal in favor of the drop will be a test of the resistance line on the indicator of relative index (RSI), the cancellation of the fall of the NZD/USD pair will result in a strong growth and breakdown at the level of 0.7345, in which case we should expect further growth.