Quotes of the currency pair New Zealand Dollar against the US Dollar NZD USD started trading month of March with a fall. The pair is still trading within a descending Forex 5-0 model, target of the pattern is the area below the level of 0.62. In favor of a continued drop in prices pair appears rebound values relative strength indicator of the resistance area.
NZD/USD Forecast New Zealand Dollar March 2017
Is expected to accelerate the fall of the pair NZD/USD in March 2017 is a breakdown of an important area of support at the level of 0.69, which indicates the completion of the formation of topping model Forex double top. Cancellation option of falling New Zealand dollar may be strong growth and the breakdown field 0.74, that point to the abolition of the descending pattern and attempt to continue growing in the area above the level of 0.78.
Among the important news from New Zealand that could affect the course of NZD/USD in March of this year, we should mention, Changing global price index for dairy products March 7, 2017, decision of the Reserve Bank of New Zealand on the basic interest rate, it is expected that the rate will be unchanged at 1.75%, as well as the accompanying statement of the Bank 22 March 2017.
NZD/USD Forecast New Zealand Dollar March 2017 suggests an attempt continuation of falling of pair within quotation start of the descending pattern forex 5-0 with a potential target of the level below the 0.69 area, the cancellation option will sample area 0.74.
