Quotations of the currency pair New Zealand Dollar to the US Dollar NZD/USD continue to move within the framework of the Forex Triangle model. At this point, we should expect an attempt to break the lower boundary of the model and continue falling into the area below the level of 0.69.
NZD/USD Forecast New Zealand Dollar on March 31, 2017
In favor of falling quotations of the pair is the test of the downward trend line on the indicator of relative strength. The cancellation of the fall of the pair’s quotes will result in a strong growth and breakdown of the upper limit of the Triangle model, indicating that the growth will continue to increase above 0.7150.
Among the important news from New Zealand, which may have an impact on the NZD/USD exchange rate, it is worth highlighting, the Business Confidence Indicator from ANZ.
NZD/USD Forecast New Zealand Dollar on March 31, 2017 suggests an attempt to break the lower boundary of the Triangle model and continue the decline to the area below the level of 0.69, the cancellation will be a breakdown of the upper boundary of the model.
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