Quotes of the currency pair New Zealand dollar against the US dollar NZD USD showed continued growth in line with expectations and our forecast of NZD/USD.
NZD/USD Forecast FOREX — June 7, 2016
At the moment, the pair quotes reached the nearest level of resistance in the form of a descending channel, or rather the boundaries. Hence, we can expect the beginning of a downward correction. In the case of penetration of the upper level of the channel is expected to continue growing in the area above the level of 0.72. In the case of the continued growth of quotations NZD USD above 0.72 levels on the daily chart of the New Zealand dollar is the potential for the formation of the descending pattern Wolfe waves.
NZD/USD Forecast FOREX — June 7, 2016 suggests an attempt correction in the rebound from the upper border of the descending channel.
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