Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the fall and working off of the «Triangle» model. At this point, we should expect a test of resistance level near the area of 0.6980 and continuation of the fall in the area below the level of 0.6880.
NZD/USD forecast & technical analysis May 10, 2018
In favor of the fall of NZD/USD, a resistance line test will be performed on the relative strength index (RSI). The cancellation of the New Zealand Dollar quotation will result in a strong growth and a breakdown at the level of 0.7060, which will indicate the breakdown of the upper limit of the «Triangle» model and the continuation of the NZD/USD quotations rise above 0.7150. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of quotations below the level of 0.6880.
NZD/USD forecast & technical analysis May 10, 2018 suggests an attempt to test the resistance area near the level of 0.6980, where it is expected to continue falling of quotations in the area below the level of 0.6880, an additional signal in favor of the drop will test the resistance line on the indicator of relative strength index (RSI).
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