The currency pair New Zealand Dollar to US Dollar NZD/USD closed its current trading month at the level of 0.7000. At the moment, the pair continues to trade in the downward model 5-0, which indicates a continuation of the decline in the area below the level of 0.65.
NZD/USD Forecast New Zealand Dollar on April 2017
In favor of the fall is the breakdown of the lower boundary of the ascending channel, which also implies the completion of the upward correction and the continuation of the fall of the pair. The cancellation of the NZD/USD pair decline may result in a strong increase in the breakdown of the 0.74 area, which will indicate the outflow of the quotes out of the downward channel and the continued growth of the pair into the area above the 0.79 level.
Expect to accelerate the fall is with the breakdown of the area of 0.69, in this case, the pair will complete the formation of the reversal model Double top.
Among the important news that may have an impact on the New Zealand dollar rate in April 2017, it is worth mentioning, the change in the global price index for dairy products on April 4, 2017.
NZD/USD Forecast New Zealand Dollar on April 2017 suggests an attempt to continue the decline from potential target near the level of 0.65 within the framework of working out the bearish model 5-0, the breakdown will be the breakdown of the upper boundary of the descending channel.
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