Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continues to move in the formation of reversal pattern Forex Head and Shoulders. We should expect the attempt to drop a pair of quotes in the area below the level of 0.72, where the pair will meet support in the form of the upper limit of the downward channel.
NZD USD Forecast New Zealand Dollar on February 3, 2017
In favor of the version of the fall of the New Zealand dollar quotations perform the test of resistance on the downlink indicator of relative strength.
Cancellation option of falling New Zealand dollar quotations will be strong growth and the breakdown of 0.7360 area, which point to continued growth and potential local maximum test area.
Important news from New Zealand is not expected, so the pair will continue to move in the technical analysis of the NZD/USD.
NZD USD Forecast New Zealand Dollar on February 3, 2017 suggests an attempt to fall within the mining reversal forex head and shoulders pattern with the immediate goal of the fall to a level below 0.72 areas.
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