Quotations of the currency pair New Zealand Dollar against the US Dollar NZD/USD continue to move in correction. At this point, we should expect the continuation of the growth of quotations in the area above the level of 0.7360.
Forex forecast & analysis NZD/USD on September 20, 2017
Whence again we should expect a rebound and continue the decline of NZD/USD below the level of 0.7105 within the framework of the beginning of the development of the bearish Wolfe wave model. In favor of the fall of the pair, a resistance line test will be performed on the indicator of relative strength index (RSI). Canceling the option of lowering the quotes of the New Zealand Dollar to Forex will be the growth and breakdown of the area of 0.7430, indicating that the growth continues above the area of 0.7580.
Important news from New Zealand, which may have an impact on the NZD/USD exchange rate, is not expected, so the pair will continue to move within the technical analysis NZD/USD.
Forex forecast & analysis NZD/USD on September 20, 2017 suggests an attempt to increase to the area above the level of 0.7360 and continue the decline as part of the development of the bearish wave model of Wolfe, the cancellation of the fall variant will be the breakout of the area of 0.7430.