Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to move within the bearish channel. It is worth waiting for the test of the upper border of the channel near the level of 0.7280 and continuation of the fall in the area below the level of 0.7140.
NZD/USD forecast & technical analysis on August 31, 2017
Expect to accelerate the fall in quotations NZD/USD is with the breakdown of the lower boundary of the channel and the consolidation of quotations below the level of 0.7120. In favor of the reduction of the pair, there will be a test of resistance area on the indicator of relative strength index (RSI). The cancellation of the New Zealand Dollar quotation will result in a strong growth and breakdown at the level of 0.7320, which will indicate that the growth will continue above the level of 0.7430.
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 31, 2017 suggests a rebound from the upper channel boundary and the continuation of the NZD/USD decline with a potential drop target near the level of 0.7140, the breakout will be a breakdown at the level of 0.7320, which will indicate the outflow of quotes out of the bearish channel .
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