Quotations of the currency pair New Zealand Dollar against the US Dollar NZD/USD continue to move within the expectations and at the moment there is potential for a tight test of the resistance area, from which it is expected to continue falling quotations in the area below the level of 0.68. In favor of falling quotes NZD/USD will perform a downward resistance test on the indicator of relative strength. Also, the current structure is the Forex Head and Shoulders model, as a continuation of the trend. With the breakdown of the local minimum area, it is expected to accelerate the fall of quotations.
NZD/USD Forecast New Zealand Dollar on May 8, 2017
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 in the technical analysis of NZD/USD.
NZD/USD Forecast New Zealand Dollar on May 8, 2017 suggests an attempt to test the area of 0.69 and continue falling to the area below the level of 0.68 within the rebound from the downward trend line on the indicator of relative strength, the breakdown will be the breakdown of the area of 0.6970.
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