Quotes of the currency pair New Zealand dollar against the US dollar NZD USD continues to move in line with expectations and at the moment is preserved for potential drop due to the formation of reversal pattern Forex Head and shoulders, drop goal and testing of this model comes to the area below 0.7050.
Technical analysis and NZD USD Forecast on January 20, 2017
Cancellation option will be a breakdown of 0.7220 areas, which point to the abolition of the model and the continued growth in NZD/USD quotes in the area above the level of 0.74. We continue to hold the sale of the New Zealand dollar and increase sales volume.
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 20, 2017 suggests an attempt to fall within the beginning of working out a reversal forex head and shoulders pattern with a potential target of the fall to below 0.7050 area.
