Quotations of the currency pair New Zealand Dollar against the US Dollar NZD USD continue to move within the limits of the decline and at the moment the quotes have broken the lower boundary of the downward channel, which indicates a possible acceleration of the fall of quotations in the area below the level of 0.6850. We continue to hold sales of the pair and increase the volume of short positions.
NZD/USD Forecast New Zealand Dollar on March 9, 2017
Cancellation of the variant of falling quotations will be a breakdown of the area of 0.7040, which will indicate a return to the inside of the descending channel and the continuation of growth in the area of the upper boundary of the descending channel. In favor of continuing the decline is a rebound from the broken trend line on the indicator of relative strength.
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 9, 2017 suggests an attempt to continue falling into the area below the level of 0.6850 within the limits of working through the broken border of the descending channel.
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