Quotations of the currency pair New Zealand Dollar to US Dollar NZD/USD continue to test the area of the upper boundary of the bearish channel. It is expected to rebound and fall of quotations of the pair in the area below the level of 0.6850.
NZD/USD forecast & technical analysis May 23, 2017
In favor of the fall is another test of the bearish trend line on the indicator of relative strength index (RSI). Cancellation of the variant of NZD/USD quotes drop will be the breakdown of the resistance area 0.6980, which will indicate the continuation of the growth of quotations New Zealand Dollar.
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 of NZD/USD.
NZD/USD forecast & technical analysis May 23, 2017 suggests a rebound from the upper boundary of the downward channel with the potential drop target at 0.6850, in favor of the drop is the downward resistance line test on the relative strength indicator.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
