The currency pair New Zealand Dollar to US Dollar NZD/USD closed the trading week at 0.6861. The pair continues to trade in a downward trend and at the moment there remains a potential for continuing the fall into the area below the level of 0.6650. In favor of the fall is the breakdown of the lower boundary of the Forex Triangle model.
FOREX Technical analysis NZD/USD May 1 — 5, 2017
However, we should not exclude the attempt to test the broken border of the Forex model of the Triangle and continue the decline of the pair. The cancellation of the fall option will be a strong growth and breakdown of the 0.70 area, which will indicate the return of the New Zealand Dollar pair against the US Dollar NZD/USD within the model and the continuation of growth.
Among the important news from New Zealand in the next trading week that can influence the rate of NZD USD, it is worth highlighting, Changing the global price index for dairy products May 2, 2017, Change in the number of employed, Unemployment rate May 3, 2017.
FOREX Technical analysis NZD/USD May 1 — 5, 2017 involves trying to test the broken Forex forex model of the Triangle and continuing the decline in the area below the level of 0.6650 within the model development, the cancellation will be the breakdown of the 0.70 area.
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