Quotations of the currency pair New Zealand dollar against the US dollar NZD USD completed the trading week at 0.7012. The pair continues to trade in a downward trend. At the moment, the pair is testing the area of the upper boundary of the descending channel, from which it is expected to continue the decline in the area below the level of 0.6810.
NZD/USD Forecast on March 20, 2017 — March 24, 2017
In the case of breakdown of the 0.71 area, there is a risk of seeing a tight test of the level of 0.72, where a downward trend line test will also take place on the relative strength indicator, where again one should expect the pair to fall. The cancellation of the option may be a breakdown of the area of 0.73, which will indicate the continuation of the upward trend in the pair.
Among the important news from New Zealand in the next trading week that may influence the NZD USD rate, it is worth highlighting, Changing the global price index for dairy products On March 21, 2017, the decision of the Reserve Bank of New Zealand at the basic discount rate, it is expected that the rate will remain without Of changes at 1.75%, as well as the Covering Statement of the Reserve Bank of New Zealand on March 22, 2017.
NZD/USD Forecast on March 20, 2017 — March 24, 2017 involves an attempt to test the upper boundary of the downlink and the continuation of the fall with a potential reduction target near the region 0.6810, the breakdown of which will indicate the continuation of the fall in the area below the level of 0.65.
