NZD USD Forecast New Zealand Dollar on November 29, 2016


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Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continued development of correction. At the moment, the pair quotes tight test resistance area at 0.7090. We should expect a rebound attempt and continued falling.

NZD USD Forecast New Zealand Dollar on November 29, 2016

NZD USD Forecast New Zealand Dollar on November 29, 2016

Also do not forget about the formation of reversal pattern head and shoulders on the daily chart of the pair, which indicates a continuation of the fall to below 0.66. We continue to hold to sell the pair and are ready to increase the volume with the development of a fall. Cancellation option will reduce the breakdown of 0.7110 areas, which point to a continuation of upward correction. Among the important news that could affect the course of the New Zealand dollar tomorrow November 29, 2016 stands out, the Financial Stability Report of the Reserve Bank of New Zealand, which could have a serious impact on the NZD USD rate and trigger a rise in volatility.

NZD USD Forecast New Zealand Dollar on November 29, 2016 suggests an attempt to fall in the rebound from the resistance area with the immediate goal of reducing to below 0.6950.

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