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 quotes are testing dense region of the upper boundary of the descending channel, where we can expect the fall of the potential to reduce an area below 0.70.
NZD USD Forecast New Zealand Dollar at December 15, 2016
An additional signal in favor of the drop in prices pair NZD USD appears to complete formation of the descending wave pattern Wolfe, which also indicates a decline. We continue to hold to sell the pair and try new transaction with a short stop. Among the important news from New Zealand that could have an impact on the New Zealand dollar tomorrow, December 15, 2016 stands out, the business activity index in the manufacturing sector of Business NZ, the past value of the index was at 55.2.
NZD USD Forecast New Zealand Dollar at December 15, 2016 involves an attempt to fall within the beginning of the descending pattern with 5-0 potential to decrease below the local minimum, the cancellation option will breakdown the top model of the border.
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