NZD/USD forecast for December 14, 2020

Looking at the chart on the weekly time frame, we see that the dollar’s decline is still in effect and that other currencies are now using it. The bullish scenario is extreme, and we do not see any indication of a slowdown for now. The NZD/USD pair is at the current 0.71000, and as a worse psychological target, we can be first 0.72500, and then 0.75000.
The Bollinger bands 100 indicator tells us that we can expect further growth of this pair because candlesticks are out of BB100 as proof of a strong bullish trend. If Candlestick closes within the BB100, then attention should be paid to whether there will be consolidation or some sign of a potential trend reversal.
We see that the NZD/USD pair bounced after a break from the upper trend line and continued up to higher levels on the daily chart. The pair has support at 0.70000 and all three moving averages MA50, MA100, and MA200, and is outside the BB100, which can indicate that we can expect growth in the coming period. On a daily chart, the first potential target of this pair could be 0.72000. The bullish scenario is a more likely option in the next short term.

On the Four-Hour Chart, we see that the NZD/USD pair has made a retest to the zone around 0.70600, now at 0.71000 and that we can expect it to continue above 0.71500 to 0.72000 in the next few days if the dollar continues to weaken or remain at this level.

The NZD/USD pair has support from the bottom of the moving averages MA50 and MA100, and we target the top of the Bollinger bands channel. The continuation of the bullish scenario in the coming period is very likely.