Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of 0.7348. The pair continues to move within the flat trend. At this point, we should expect a test of the resistance area near the level of 0.7420 and the continuation of the fall of the pair below the level of 0.6950.
NZD/USD weekly forecast April 16 — 20, 2018
In favor of the fall of NZD/USD, a resistance area test will be performed on the relative strength index (RSI). Cancellation of the fall option will be a strong and breakdown of the area of 0.7550, 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 a breakdown of the resistance level and the closing of quotations below the area of 0.7100.
NZD/USD weekly forecast April 16 — 20, 2018 involves an attempt to test the resistance level near the area of 0.7420 and continue the fall of the NZD/USD pair into the area below the level of 0.6950, an additional signal in favor of the drop will be a test of the resistance area on the indicator of relative strength index (RSI), the cancellation of the pair’s growth option will result in strong growth and closing of the NZD/USD quotations above the level of 0.7550.