Quotations of the currency pair New Zealand Dollar against the US Dollar NZD/USD demonstrate the development of an upward correction. However, at the moment the quotes of the pair test the lower limit of the Forex model of the Triangle.
NZD/USD Forecast New Zealand Dollar on May 2, 2017
It is expected to rebound and continue to decline the quotes NZD/USD in the area below the level of 0.68. In favor of the drop in quotations, a tight test of the downward resistance line will appear on the indicator of relative strength. Cancellation of the fall option will be a breakdown of the area 0.6950, which will indicate the return of quotations inside the Forex model.
Among the important news from New Zealand, which may have an 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 2, 2017 suggests a rebound attempt from the broken Forex frontier of the Triangle model with a potential reduction target near the 0.68 area.
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