Quotes of the currency pair New Zealand Dollar are ending the trading week with growth near the level of 0.5755. The moving averages indicate a bearish trend for the pair. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the currency pair and a potential continuation of the fall from the current levels on the market. At the moment, we should expect an attempt to develop a bullish correction of the currency pair on Forex and a test of the resistance area near the level of 0.5805. Then, a rebound downwards and a continuation of the fall of the currency pair with a potential target below the level of 0.5505.
NZD/USD Weekly Forecast February 24 — 28, 2025
An additional signal in favor of the growth of the NZD/USD currency pair will be a test of the support line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the upper border of the “Wedge” reversal pattern. The cancellation of the option of a fall in quotes of the pair in the current trading week of February 24 — 28, 2025 will be a strong growth and a breakout of the 0.5955 area. This will indicate a breakout of the resistance area and continued growth of the NZD/USD pair with a potential target above the level of 0.6205. A breakout of the support area and closing of quotes below the 0.5655 area will confirm the fall of the currency pair on Forex, which will indicate a breakout of the lower border of the “Wedge” reversal pattern and the beginning of the implementation of the pattern with downward targets.
NZD/USD Weekly Forecast February 24 — 28, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 0.5805 area. Further, the NZD/USD pair will continue to fall to the area below the 0.5505 level. An additional signal in favor of a decline will be a test of the trend line on the relative strength indicator. The cancellation of the pair’s fall option will be a strong growth of NZD/USD quotes closing above the level of 0.5955. In this case, we should expect a continuation of the rise of the currency pair with a target above the level of 0.6205.
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