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 border of the channel near the level of 0.7310 and continue falling to the area below the level of 0.7120.
NZD/USD forecast & technical analysis March 27, 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 a breakdown at the level of 0.7335, which will indicate the breakdown of the resistance area and the continuation of the NZD/USD quotes growth. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of quotes below the level of 0.7240.
NZD/USD forecast & technical analysis March 27, 2018 suggests an attempt to test the upper limit of the downward channel near the level of 0.7310, from which it is expected to continue falling of quotations in the area below the level of 0.7120, an additional signal in favor of the fall will be a test of the resistance line on the indicator of relative strength index (RSI), the cancellation of the fall of the NZD/USD pair will result in a strong growth and breakdown at the level of 0.7335, in which case we should expect further growth.