Quotations of the currency pair New Zealand Dollar against the US Dollar NZD USD continue to move within the limits of the decline and at the moment the quotes have broken the lower boundary of the descending channel, which indicates the potential acceleration of the NZD/USD fall.
NZD/USD Forecast on March 8, 2017
The purpose of the fall is the area at a level below 0.6850. In favor of continuing the decline in quotes of the pair is a test of a broken trend line on the indicator of relative strength. We continue to try to sell the pair and hold the previously opened positions on the New Zealand dollar. The abolition of the fall option will be the breakdown of the area of 0.7070.
Important news from New Zealand, which may have an impact on the NZD/USD exchange rate, is not expected, so the pair will continue to move in the technical analysis of NZD/USD.
NZD/USD Forecast on March 8, 2017 suggests an attempt to accelerate the fall within the breakdown of the lower boundary of the downward channel with a view to falling below the area of 0.6850.
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