Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continues to move in the development of a strong bullish correction.
Technical analysis and NZD USD Forecast on January 18, 2017
At the moment, the pair broke through the upper limit of the downward channel, and has the potential for a tight test 0.72 area, where we should expect a rebound attempt to start mining within the forex pivot model head and shoulders on the indicator of relative strength.
The immediate goal of the fall is the area at the level of 0.7070. Cancellation option will be a breakdown of 0.7240 area, which point to continued growth in the region of a local maximum. Important news from New Zealand tomorrow is not expected, so the pair will continue to move in the technical analysis of the NZD/USD.
Technical analysis and NZD USD Forecast on January 18, 2017 suggests an attempt to rebound from the upper border of the descending channel with the immediate goal at the level of 0.7070.
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