Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continues to move through the descending Forex Wolfe wave model with a view to fall to below 0.7050 areas. Cancellation option will increase in quotes above the strong level 0.7470, which will point to the continued growth of quotations pair New Zealand Dollar.
NZD USD Forecast New Zealand Dollar on November 11, 2016
An additional signal in favor of the fall is the breakdown of the trend line on the indicator of relative strength.
NZD USD Forecast New Zealand Dollar on November 11, 2016 suggests an attempt to fall within the framework of the descending pattern Won Wolfe to reduce the area below 0.7040; we continue to hold the sale and are ready to increase the volume of short positions on the pair.