Quotations of the currency pair New Zealand Dollar against the US Dollar NZD/USD continue to move in line with expectations and our previous forecast NZD/USD. At the moment, quotes are testing the local minimum area and were able to push off from the broken triangle model boundary.
Forex forecast NZD/USD for tomorrow May 12, 2017
In favor of the fall of the pair is the breakdown of the ascending trend line on the indicator of relative strength. The target of the NZD/USD lowering may be the area below the level of 0.6750, the abolition of the continuation of the fall development will be a strong growth and breakdown of the area of 0.6950.
Among the important news from New Zealand, which may have an impact on the NZD/USD exchange rate, it is worth noting the Business Activity Index in the manufacturing sector from Business NZ.
Forex forecast NZD/USD for tomorrow May 12, 2017 suggests an attempt to continue the decline to the area below the level of 0.6750 within the rebound from the broken trend line on the indicator of relative strength, the cancellation will be a strong growth above the level of 0.6950.
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