Currency pair New Zealand Dollar to US Dollar NZD/USD completes trading week at 0.7045. The pair is testing the resistance area. It is worth to expect an attempt to rebound and fall of quotations in the region at the level of 0.6940.
NZD/USD forecast on May 29, 2017 — June 2, 2017
In favor of the drop, a down-line resistance test comes on the relative strength indicator (RSI). In the vicinity of 0.6940, we should expect a rebound and an attempt to grow the pair into the upper boundary of the downward channel at the level of 0.7250. Cancellation of the growth option may be a breakdown of the local minimum area, which will indicate the continuation of the pair’s decline.
Among the important news from New Zealand on the following trading week, which may affect the NZD/USD exchange rate, it is worth highlighting:
May 31, 2017, Wednesday, Statement of Financial Stability of the Reserve Bank of New Zealand.
NZD/USD forecast on May 29, 2017 — June 2, 2017 involves an attempt to test the area of 0.6940 and the beginning of the pair’s growth in the upper boundary of the downlink, in favor of falling from current levels is the test of the lower resistance line on the indicator of relative strength index (RSI).
