Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continues to trade within the forex triangle patterns. At the moment, there is potential for a rebound from the resistance level and the breakdown of the lower boundary of the model. The purpose of the fall and the mining model is the area below the level of 0.70.
Forecast New Zealand Dollar NZD USD on December 7, 2016
Cancellation option decrease in mining within the Triangle becomes a strong growth and a break of resistance area with closing above the level of 0.72. Acceleration of the fall of quotations pair NZD / USD is expected to breakdown level 0.7050. We continue to hold to sell the pair and try to increase the amount of short positions by decreasing development. Among the important events that may have an impact on the New Zealand Dollar exchange rate tomorrow, December 7, 2016 stands out, Speech by the Reserve Bank of New Zealand with a speech.
Forecast New Zealand Dollar NZD USD on December 7, 2016 suggests an attempt to break the lower boundary of the model Triangle forex and falling of pair of quotes in the area below the level of 0.70.
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