Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continues to decline within the mining big reversal forex head and shoulders pattern with a view to a potential fall in the level below 0.66 area. At the moment, the pair quotes NZD USD tightly testing punched neck line reversal pattern that indicates a potential drop since the current levels.
NZD USD Forecast New Zealand Dollar on November 24, 2016
Cancellation option will reduce the strong growth of quotations of the New Zealand dollar higher than 0.71, which indicates a continued growth of quotations in the area above the level of 0.72. We continue to hold tight stop sales and are ready to increase the volume of sales to the extent of the fall.
NZD USD Forecast New Zealand Dollar on November 24, 2016 suggests an attempt to fall from the resistance level in the area below the 0.6950 level in the framework of the continuation of mining reversal pattern Forex Head and Shoulders.