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 quotes from the support level and the pair’s growth in the area above the level of 0.7360, where again we should expect the beginning of the fall in the area below 0.6950.
NZD/USD forecast & technical analysis on August 24, 2017
In favor of the growth of the pair is the test of the support line on the indicator of relative strength index (RSI). 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 24, 2017 suggests an attempt of rebound and growth of quotations to the area above the level of 0.7360 as part of the completion of the «Head and Shoulders» reversal pattern.
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