Quotes of the currency pair New Zealand dollar against the US dollar NZD USD finished the trading week correction at the upper limit of the downward channel. There is a potential for falling NZD/USD quotes at the beginning of the descending part of the forex model 1:1 with a view to a potential fall in the level below 0.67 area.
Technical analysis NZD USD on January 16, 2017 — January 20, 2017
In favor of a bounce speaks tight test downward trend line on the indicator of relative strength. Cancellation option of falling New Zealand dollar will be strong growth of quotations quotes NZD USD higher than 0.72, which points to the breakdown of the resistance area and continued growth in the region of a local maximum.
Among the important news from New Zealand in the next trading week, which may influence the course of NZD USD, is to provide, Changing global index prices for dairy products, the past value of the index was at -3.9%.
Technical analysis NZD USD on January 16, 2017 — January 20, 2017 suggests an attempt to fall within the beginning of the descending forex 1:1 model with a potential target at levels below 0.67 area.
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