Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD is trading at 0.6926. At the moment, the pair quotes are testing the resistance area. It is expected to fall quotations of the pair New Zealand Dollar to US Dollar in the support area at 0.6840. In case of a breakdown of the support level, we should expect the continuation of the currency pair NZD/USD decline with the target below 0.6780.
NZD/USD forecast & technical analysis on May 19, 2017
In favor of the fall is the test of the downward trend line on the MACD indicator, as well as the test of the upper boundary of the descending channel. Cancellation of the variant of falling quotes of the currency pair New Zealand Dollar to US Dollar will be a breakdown of the resistance level and fixing of quotations above the level of 0.7010. However, as the main option, one should expect the NZD/USD to fall below 0.6840.
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