Westpac Forecasts for NZD/USD: key support level will not be broken
29 October 2015, 12:11
0
787
NZD/USD
Thus, the general forecast for NZD/USD at 2016 year-end is the following: primary bearish market condition with the secondary ranging.
The pair is on bearish market condition for
ranging within 0.6084 key support level and 0.6896 key resistance
level. RSI indicator is estimating for the bearish trend to be continuing with the next bearish target as 0.60.
According to the forecast made by Westpac Banking Corporation,
this 0.6084 key support level will not be broken in 2015 and
2016 as well - we may see the secondary ranging up to December next
year for this pair, and some secondary bear market rally will be started
in the second half of 2016 only.
| Pairs | Q4 Dec'15 | Q1 Mar'16 | Q2 Jun'16 | Q3 Sep'16 | Q4 Dec'16 |
|---|---|---|---|---|---|
| NZD/USD | 0.640 | 0.630 | 0.610 | 0.620 | 0.630 |
