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 quotations from the level of 0.7285 and the beginning of the fall in the area below the level of 0.70.
NZD/USD forecast & technical analysis on August 29, 2017
In favor of the fall of the pair NZD/USD is the resistance line test on the indicator of relative strength index (RSI). Expect to accelerate the fall in quotes NZD/USD is with a breakdown of the level of 0.7190. The reversal of the fall option will be a strong growth and breakdown at the level of 0.7340.
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 within the technical analysis NZD/USD.
NZD/USD forecast & technical analysis on August 29, 2017 suggests an attempt to fall from current levels with a potential drop target near the 0.70 area, an additional signal is the resistance line test on the relative strength indicator (RSI).
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