Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continues to move in the downward trend and bearish forex Wolfe wave model. The purpose of the fall and the mining model is the area on the level below 0.6850.
NZD USD FOREX forecast on January 11, 2017
Cancellation option will be a strong growth of quotations NZD/USD above the 0.7110 level, which will indicate the quotations, leaves the descending channel and the continued growth of the New Zealand Dollar above 0.7350 levels.
In favor of the fall is the test of the resistance line on the indicator of relative strength, as well as the potential breakout patterns triangle on the display down. Important news from New Zealand tomorrow is not expected, so the pair will continue to move in the technical analysis of the NZD/USD.
NZD USD FOREX forecast on January 11, 2017 suggests an attempt to fall within the mining forex bearish wave pattern Wolfe with the potential to reduce to below 0.6850 areas.
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