Quotations of the currency pair New Zealand Dollar against the US Dollar NZD USD continue to move within the limits of the decline. At the moment, the pair is trading near an important level of support, the breakdown of which indicates the continued development of the fall.
However, we should not exclude the attempt to increase the NZD/USD quotations to the upper channel boundary, where again we should expect a fall and potential breakdown of the support area.
NZD/USD Forecast New Zealand Dollar on March 13, 2017
In favor of the variant of falling of quotations of the New Zealand dollar the test of a descending line of a trend on the indicator of relative strength will act. Cancellation of the fall option will be a breakdown of the area of 0.7070, which indicates the continued growth of the pair.
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 New Zealand Dollar on March 13, 2017 suggests an attempt of minor correction and the continuation of the fall of quotations in the area below the level of 0.6850.
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