Currency pair New Zealand Dollar to US Dollar NZD/USD continue to be traded within the descending channel. At the moment, the potential for a fall in the pair’s quotes remains below the local minimum level near 0.6850.
NZD/USD forecast New Zealand Dollar on May 16, 2017
In favor of falling quotations the pair New Zealand Dollar to US Dollar NZD/USD will perform a downward resistance test on the relative strength indicator. And also test the upper boundary of the descending channel. The reversal of the fall of the pair will be a strong growth and breakdown of the area of 0.6950, which will indicate the continued growth of quotations NZD/USD.
Among the important news from New Zealand, which can have a strong impact on the NZD/USD exchange rate, it is worth highlighting, the change in the global price index for dairy products.
NZD/USD forecast New Zealand Dollar on May 16, 2017 involves an attempt to test the upper boundary of the descending channel and continue falling to the area below the level of 0.6850, with the breakdown of the area of 0.6950 indicating that the growth of NZD/USD quotes will continue.
