Quotes of the currency pair New Zealand Dollar against the US Dollar NZD/USD are ending the trading week with a fall near the 0.5895 level. Moving averages indicate a bearish trend for the pair. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of the currency pair and potential continuation of growth 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 0.5995. Then, a rebound downwards and a continuation of the fall of the currency pair with a potential target below the level of 0.5575.
NZD/USD Weekly Forecast May 12 — 16, 2025
An additional signal in favor of the fall of the NZD/USD currency pair will be a test of the resistance line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the upper border of the bullish channel. Cancellation of the option of a fall in quotes of the pair in the current trading week of May 12 — 16, 2025 will be strong growth and a breakout of the 0.6205 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 0.6435. The fall of the currency pair on Forex will be confirmed by a breakout of the support area and closing of quotes below the 0.5685 area, which will indicate a breakout of the lower boundary of the bullish correction channel.
NZD/USD Weekly Forecast May 12 — 16, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 0.5995 area. Further, the continuation of the fall of the NZD/USD pair to the area below the 0.5575 level. An additional signal in favor of the decline will be a test of the trend line on the relative strength indicator. The cancellation of the fall option for the pair will be a strong growth of closing of NZD/USD quotes above the 0.6205 level. In this case, we should expect a continuation of the rise of the currency pair with a target above the 0.6435 level.
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