Quotations of the currency pair New Zealand Dollar NZD/USD continue to move within the limits of the decline. It is worth to wait for the test of the level of 0.7010 and the beginning of growth in the area above the level of 0.7240 within the beginning of the development of the bullish model of the Wolfe wave.
NZD/USD prediction & technical analysis on October 12, 2017
In favor of the growth of the pair on Forex is the breakdown of the trend line on the indicator of relative strength index (RSI). Cancellation of the variant of growth of quotations of the New Zealand Dollar on Forex will be the breakdown of the area of 0.6950, which will indicate the continuation of the pair’s decline. The overall goal of working off the Wolfe wave is the area above the level of 0.75.
NZD/USD prediction & technical analysis on October 12, 2017 presupposes a test of the 0.7010 level, from which it is expected to start the growth of quotations above the level of 0.7240 within the bullish wave model of Wolfe, the cancellation of the growth option will be the breakdown of the area 0.6950, which indicates the continued development of the bearish trends on the pair.
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