Quotes of the currency pair New Zealand dollar against the US dollar NZD USD finished the trading week at 0.7191. The pair continues moving inside the descending channel and has the potential for further drop in prices in the area of the lower limit on the level of 0.6850. In favor of the fall is the rebound of a downward trend line on the indicator of relative strength.
NZD/USD Forecast on 27 February, 2017 — 3 March, 2017
Cancellation option of falling quotations NZD/USD can become a strong growth and the breakdown of the upper limit of the downward channel, but in this case there is the potential for the formation of the descending wave pattern Wolfe forex that will point to continued decline. Is expected to accelerate the fall of the New Zealand Dollar quotations is a breakdown of the 0.7130 support area.
Among the important news from New Zealand in the next trading week, which may influence the course of NZD USD, is to provide, Balance of foreign trade, the confidence indicator in the business environment of ANZ February 28, 2017.
NZD/USD Forecast on 27 February, 2017 — 3 March, 2017 suggests an attempt to continue the drop in prices to the lower boundary of the descending channel at 0.6850 near.
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