Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continued growth of quotations in the area of the upper boundary of the descending channel model 5-0, where we should expect the pair to rebound and fall to below 0.70.
NZD USD Forecast New Zealand Dollar on December 9, 2016
An additional signal in favor of reducing dense stands the test downward trend line an indicator of relative strength. Cancellation option will be a strong growth of quotations NZD / USD above the 0.7310 level, which will indicate the quotations leaves the descending channel and correction of development in the area above the level of 0.74. In favor of reduction of quotations pair NZD / USD will be the completion of the formation of the descending pattern Wolfe waves for the purpose of falling below the level of 0.7040. Important news from New Zealand tomorrow is not expected, so the pair will move in the framework of technical analysis NZD USD.
NZD USD Forecast New Zealand Dollar on December 9, 2016 suggests an attempt to test the upper boundary of the channel and continue falling in the framework of the descending forex 5-0 model with the potential to reduce the level below 0.70 area.