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 necessary to expect continued growth of the pair on Forex in the area above the level of 0.7400, where again we should expect the beginning of the fall in the area below 0.6950.
NZD/USD forecast & technical analysis on August 23, 2017
Canceling the variant of working out the «Head and Shoulders» reversal pattern will be the breakdown of the local maximum area and the closing of quotes above the level of 0.7580, which will indicate the continued growth of the pair. Expect to accelerate the fall of quotations is with the breakdown of the level of 0.72.
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 23, 2017 suggests an attempt to complete the formation of the «Head and Shoulders» reversal model near the 0.74 area and the beginning of the fall with a potential target below 0.6950.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
