Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move as part of the formation of the «Head and Shoulders» reversal pattern. It is expected to rebound the pair in the area above the level of 0.7410 and then continue the decline in the area below the level of 0.7050.
NZD/USD forecast & technical analysis on August 16, 2017
In favor of the growth of quotations from current levels is the test of the support line on the indicator of relative strength index (RSI). Cancellation of the growth option will be a fall and breakdown of the area of 0.7160, which will indicate the continuation of the fall of the NZD/USD currency 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 NZD/USD.
NZD/USD forecast & technical analysis on August 16, 2017 suggests an attempt to grow the pair in the area above the level of 0.7410 as part of the completion of the head and shoulders reversal pattern.
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