Quotations of the currency pair New Zealand Dollar against the US Dollar NZD/USD continue to move within the lateral trend and at the moment there is still potential for falling quotes. In favor of the decline is a tight test of the downward trend line on the indicator of relative strength.
Technical analysis & NZD/USD Forecast on May 11, 2017
The purpose of falling NZD/USD is the area below the level of 0.6850. With the breakdown of the area of the lower border of the Forex Triangle model, one should expect an acceleration of the NZD/USD price drop. Canceling the option of reducing the pair will be a strong growth and breakdown of the area of 0.6975, which will indicate the continuation of the development of correction for the pair.
Among the important news from New Zealand, which may have a strong impact on the New Zealand Dollar to the US Dollar NZD/USD, it is worth highlighting, the Reserve Bank of New Zealand’s decision on the basic interest rate is expected to remain unchanged at 1.75%, the Covering Statement The Reserve Bank of New Zealand, the Bank’s press conference, the speech of the head of the Reserve Bank of New Zealand.
Technical analysis & NZD/USD Forecast on May 11, 2017 involves a rebound attempt from the upper bound of the Triangle model and a drop to the area below the level of 0.6850, in favor of the decline is the test of the trend line on the indicator of relative strength.
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