Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD completed the trading week at 0.7002. The pair continues to move within the lateral trend and at the moment there is a potential for breakdown of the area of 0.71 in the framework of the model development Failure.
NZD/USD Forecast New Zealand Dollar on April 17 — 21, 2017
After the test area of 0.71, we expect a rebound and a fall in the quotes of the New Zealand Dollar pair to an area below 0.68 as part of the resistance line test on the relative strength indicator. With the breakdown of the region of the lower boundary of the Triangle model, one should expect the NZD/USD quotes to accelerate.
Among the important news from New Zealand in the next trading week that can influence the NZD USD rate, it is worth highlighting, the change in the global price index for dairy products on April 18, and the consumer price index on April 20, 2017.
NZD/USD Forecast New Zealand Dollar on April 17 — 21, 2017 involves an attempt to test the area of 0.71 and continue the fall with a potential target near the area of 0.68 within the rebound from the downward resistance line on the relative strength indicator.
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