NZD/USD weekly forecast on October 16 — 20, 2017


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Quotes of the New Zealand Dollar to US Dollar NZD/USD close the trading week near the area of ​​0.7186. The pair continues to move within the framework of the bullish wave model of Wolfe. At the moment, we should expect an attempt to test the level of 0.7110 in and continue the growth of the pair with a potential target near the level of 0.7500.

NZD/USD weekly forecast on October 16 — 20, 2017

In favor of the growth of NZD/USD, a breakdown of the bearish trendline will occur on the indicator of relative strength index (RSI). Cancellation of the growth option will be the fall and breakdown of the area of ​​0.6950, which will indicate the outflow of quotes beyond the lower border of the channel and the continued reduction of the pair NZD/USD.

NZD/USD weekly forecast on October 16 — 20, 2017

Among the important news from New Zealand, which may have an impact on the New Zealand Dollar exchange rate, it is worth highlighting: the Consumer Price Index.

NZD/USD weekly forecast on October 16 — 20, 2017 involves an attempt to test the level of 0.7110, where it is expected to continue the growth of the pair with a potential target near 0.7500, in favor of growth, a breakdown of the trend line on the indicator of relative strength index (RSI) will perform.

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