Quotes of the currency pair New Zealand Dollar against the US Dollar NZD/USD closed the trading week at 0.6917. The pair continues to test the area of the lower boundary of the Forex Triangle model. It is worth waiting for an attempt to rebound and continue falling into the area below the level of 0.67.
NZD/USD Forecast New Zealand Dollar on May 8 — 12, 2017
In favor of falling quotations of the pair will perform a downward resistance test on the indicator of relative strength. The cancellation of the NZD/USD decline in the current trading week will result in a strong growth and breakdown of the 0.7080 area, which will indicate continued growth of the pair.
Among the important news from New Zealand on the following trading week, which can influence the NZD/USD rate, it is worth highlighting:
Thursday, May 11, 2017, The Reserve Bank of New Zealand’s decision on the basic interest rate is expected to remain unchanged at 1.75%, the New Zealand Reserve Bank’s Covering Statement, the New Zealand Reserve Bank Press Conference, the New Zealand Reserve Bank Statement.
Friday, May 12, 2017, The index of business activity in the manufacturing sector from Business NZ.
NZD/USD Forecast New Zealand Dollar on May 8 — 12, 2017 assumes an attempt to test the level of 0.6950 and continue the decline in the area below 0.67, the cancellation of the NZD/USD decline will be a strong growth and breakdown of the area of 0.7080, which will indicate the development of the upward movement of the pair.
