Quotations of the currency pair New Zealand dollar against the US dollar NZD/USD finished the trading week at the level of 0.7025. The pair has left the limits of the rising channel and at the moment there is a potential for continuing falling of quotes of the pair in the area below the level of 0.6650. However, one should not exclude a tight test of the broken edge of the ascending channel, after which it is again possible to consider the continuation of the decrease.
NZD/USD Forecast on March 27, 2017 — March 31, 2017
Expect to accelerate the fall of the New Zealand Dollar is with the breakdown of the lower boundary area of the Triangle model and the closing of the pair below the area of 0.6830, which will indicate the breakdown of the model and the beginning of the mining with a target below the area of 0.65.
The cancellation of the fall of the pair could be a strong growth and breakdown of the upper limit of the Triangle model, which indicates the continuation of the upward trend in the pair and growth in the area of new local maxima.
Among the important news from New Zealand on the next trading week that can influence the NZD USD rate, it is worth highlighting the Business Confidence Indicator from ANZ on March 31, 2017.
NZD/USD Forecast on March 27, 2017 — March 31, 2017 Involves an attempt to continue falling quotes of the pair in the area below the level of 0.6650 within the beginning of the Forex model Triangle trial, canceling the option of breaking the upper limit, which indicates the continuation of the upward trend.
