NZDUSD forecast for March 18

Looking at the chart on the weekly time frame, we see that the pair has dropped to moving averages MA20 and EMA20, and here we can now expect some support. By setting the Fibonacci retracement level, we see that the pair is currently testing 50.0% at 0.71500. If the pair rejects, we look at the bullish trend's continuation and go towards the 61.8% level at 0.75500. We expect a fall below the Fibonacci level of 50.0% and a fall below the moving averages for the negative and bearish scenario. Then we look at the moving averages MA200 and EMA200 at 38.2% levels.