Quotations of the currency pair New Zealand Dollar against the US Dollar NZD/USD continue to move as part of the formation of the bearish wave model of Wolfe. At this point, we should expect the continuation of the growth of quotations in the area above the level of 0.7360.
FOREX forecast & analysis NZD/USD on September 21, 2017
Whence again we should expect a rebound and continue the decline of NZD/USD below the level of 0.7100. In favor of the fall of the pair on Forex will test the resistance line on the indicator of relative strength. Canceling the option of lowering the New Zealand Dollar quotations on Forex will be a strong growth and breakdown of the area of 0.7430, which indicates that the growth will continue above the level of 0.7580. Expect to accelerate the fall is with the breakdown of the area of 0.7280.
Among the important news from New Zealand, which can influence the NZD/USD exchange rate, it is worth highlighting: GDP volume change.
FOREX forecast & analysis NZD/USD on September 21, 2017 presupposes a test of the 0.7360 level and the continuation of the decline as part of the working out of the bearish wave model of Wolfe with the potential target to fall near the level of 0.7100, the breakdown of the fall version will be a breakout of 0.7430 area.