New Zealand Dollar Expected to Rise Soon

The New Zealand Dollar Index is Moving in a Sideways Movement

Currently, the index is trending downward due to reaching daily supply zones,

which are the upper bound of the current sideways trend.

Therefore, a decline is still expected for the New Zealand Dollar Index, 

which explains the weakness of the New Zealand Dollar in recent days and even today.

If the decline actually continues and the specified demand zones are reached,

a rise is expected from these areas, as they are considered the lower bound of the sideways movement.

In addition, the specified demand zones are considered strong new areas,

therefore, a rise from these areas is expected if they are reached.

Rising targets are expected at the 1.2300 and 1.2350 levels, respectively.

If the rise actually occurs, we are expected to see strength for the New Zealand Dollar,

against most major currencies.

If the price breaks the demand zone and closes below it with a full candle,

 the downward trend is expected to continue, 

indicating continued weakness in the New Zealand dollar.