Quotations of the currency pair New Zealand Dollar against the US Dollar NZD USD continue to move within the descending channel. At the moment, there is potential for an attempt to rebound from the resistance area and continue falling into the area below the level of 0.6850.
NZD/USD Forecast New Zealand Dollar on March 16, 2017
In favor of the decline is the test of the downward trend line on the indicator of relative strength. Canceling the option will break the trend line on the indicator of relative strength, which indicates the continuation of dew to the upper boundary of the downward channel.
Among the important news from New Zealand that can influence the NZD/USD rate, it is worth highlighting, the GDP volume change, it is expected to decrease from 1.1% to 0.7% for the quarter, and in annual terms from 3.5% to 3.2% , Which could put a strong pressure on the New Zealand dollar against the US currency.
NZD/USD Forecast New Zealand Dollar on March 16, 2017 suggests an attempt of a tight downward trend test of the trend line on the relative strength indicator and the continuation of the decline, the breakdown of the 0.6960 area will be an indication that the growth will continue to the upper boundary of the descending channel.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
