Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continues moving inside the descending pattern forex, 5-0. At the moment, there is the potential for a tight test 0.7240 area, where we can expect the fall in an attempt to start within the mining model with the potential to reduce the area below 0.6950.
NZD USD Forecast December 14, 2016
In favor of the fall is the formation of the descending pattern and Wolfe waves for the purpose of falling below the 0.70 area. Cancellation option will be a strong pair of quotes growth FOMC decision on interest rate above the level of 0.7280, which indicates a potential test of the local maximum in the area. We continue to hold to sell the pair and are ready to increase the volume of short positions on decreasing development.
NZD USD Forecast December 14, 2016 suggests an attempt to drop after the test the upper boundary of the descending pattern 5-0.
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