Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the fall and formation of the «Triangle» model. At this point, we should expect an attempt to test the resistance level near the area of 0.7020 and continue falling to the area below the level of 0.6905.
NZD/USD forecast & technical analysis May 8, 2018
In favor of the fall of NZD/USD, a resistance line test will be performed on the relative strength index (RSI). Cancellation option New Zealand Dollar quotations fall Forex will be strong growth and breakdown of the level 0.7070, which will point to the «Triangle» model, the upper limit of the sample and continuing growth in NZD/USD quotes in the area above the level of 0.7150. To expect confirmation of the fall of the pair is with the breakdown of the lower bound of the «Triangle» model and the closing of quotations below the level of 0.6970.
NZD/USD forecast & technical analysis May 8, 2018 estimated test of resistance area attempt to near the level of 0.7020, where we can expect continuation of falling of quotations in the area below the level of 0.6905, an additional signal to the fall will perform the test the resistance line on the indicator of relative strength index (RSI), the abolition the NZD/USD pair’s decline will be a strong growth and breakdown at the level of 0.7070, in which case we should expect the pair to continue growing.
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