Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of 0.6906. The pair continues to move in a bearish trend. At the moment, we should expect a test of the resistance area near the level of 0.7100 and continuation of the fall of the pair below the level of 0.6650.
NZD/USD weekly forecast May 21 — 25, 2018
In favor of the fall of NZD/USD, a resistance line test will be performed on the relative strength index (RSI). Cancellation of the fall variant will be a strong and breakdown of the area of 0.7230, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of the pair NZD/USD. Confirmation of the fall of the pair will be the breakdown of the lower boundary of the «Triangle» model and the closing of quotations below the area of 0.6800.
NZD/USD weekly forecast May 21 — 25, 2018 suggests a test of the resistance level near the area of 0.7100 and the continuation of the fall of the NZD/USD pair into the area below the level of 0.6650, an additional signal in favor of the drop will be a resistance line test on the relative strength index (RSI), the cancellation of the fall of the pair will result in strong growth and closing of the NZD/USD quotations above the level of 0.7230.