Quotations of the New Zealand dollar currency pair against the US dollar NZD USD completed the trading week at 0.6920. The pair showed a strong decline and at the moment has come close to the level of support, the breakdown of which will indicate the acceleration of the pair’s decline.
NZD/USD Forecast on March 13, 2017 — March 17, 2017
At the moment, we expect the correction of quotations within the test of the broken trend line on the relative strength indicator, where again we should expect the NZD/USD to continue falling to the area of 0.6830, the breakdown of which will indicate the acceleration of the decline with the potential drop target below the area of 0.6495.
The cancellation of the option to reduce the quotes of the New Zealand dollar may be a strong growth and breakdown of the area of 0.72, which indicates a potential breakdown of the upper boundary area of the descending channel.
Among the important news from New Zealand on the next trading week that can influence the NZD USD rate, it is worth highlighting, the GDP volume change on March 16, 2017.
NZD/USD Forecast on March 13, 2017 — March 17, 2017 involves an attempt to correct the quotations in the area of 0.70, where we should expect a tight test of the broken trend line on the indicator of relative strength and continue the decline in the area below the level of 0.68.
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