Quotes of the currency pair New Zealand Dollar against the US Dollar NZD USD continues to move in the downward trend. At the moment, there is the potential to see the continuation of the reduction in the area below the level of 0.68.
NZD USD Forecast New Zealand Dollar on January 4, 2017
In favor of the quotations falling variant appears reversal pattern forming head and shoulders on the indicator of relative strength.
Acceleration drop in prices pair can be expected only with the breakdown of the rising channel’s lower border. Cancellation option of falling quotations NZD USD will be strong growth sample local maximum region with closing prices above the level of 0.6980.
We continue to hold to sell the pair and try new deal with the tight stop loss. Important news from New Zealand tomorrow is not expected, so the pair will continue to move in the Technical Analysis NZD USD.
NZD USD Forecast New Zealand Dollar on January 4, 2017 suggests an attempt to continue to fall below the level of 0.68 as a continuation of the downward trend and mining forex head and shoulders pattern on the daily chart with the pair.
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