Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continues to move in the upward correction, and is currently retained the potential for the breakdown of the lower boundary of the model and continue to fall below the level of 0.7050.
Forex Forecast and Analysis NZD USD on January 23, 2017
In favor of the version of the fall is still in favor of formation of topping forex head and shoulders pattern on the indicator of relative strength. Cancellation option will increase in quotes above the strong level 0.7220, which will indicate the output quotes at channel limits and the continuation of growth of pair of quotes in the area above the level of 0.74.
Important news from New Zealand tomorrow is not expected, so the pair will continue to move in the technical analysis of the NZD/USD.
Forex Forecast and Analysis NZD USD on January 23, 2017 suggests an attempt to fall within the beginning of working out a reversal forex head and shoulders pattern on the display relative to the target of the fall to below 0.7050 area.
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