Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of 0.6768. The pair continues to move in a bearish trend. At this point, we should expect a test of the resistance area near the level of 0.6820 and the continuation of the fall of the pair below the level of 0.6470.
NZD/USD weekly forecast & analysis July 30 — August 3, 2018
In favor of reducing the currency pair NZD/USD, a downtrend test on the relative strength index (RSI) will perform. The reversal of the fall variant will be a strong growth and breakdown of the area of 0.6950, which will indicate the breakdown of the upper border of the channel and the continued growth of the pair NZD/USD. Confirmation of the fall of the pair will be the breakdown of the lower border of the channel and the closing of quotations below the area of 0.6600.
NZD/USD weekly forecast & analysis July 30 — August 3, 2018 involves an attempt to test the resistance level near the area of 0.6820 and the continuation of the fall of the NZD/USD pair into the area below the level of 0.6470, an additional signal in favor of the decline will be a down trend line test on the relative strength index (RSI), the cancellation of the fall of the pair will be strong growth and closing of the quotes NZD/USD above the level of 0.6950.