Currency pair New Zealand Dollar to US Dollar NZD/USD completes the trading week at 0.6861. The pair continues to trade below the moving average with a period of 55, indicating a bearish trend for the pair New Zealand Dollar. At the moment, quotes of the pair test the lower boundary of the bands of the Bollinger Bands indicator. It is worth waiting for the test of the average border of the Bollinger Bands indicator bars near the level of 0.6960, where we can expect an attempt to continue the fall with the first target near the level of 0.6740.
Bollinger Bands forecast NZD/USD for May 1 — 5, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 0.7060. Canceling the option of continuing the fall of the NZD/USD pair will be a breakdown of the moving average with a period of 55, as well as the upper border of the indicator bars and the closing of the pair’s quotations above the area of 0.7140, which indicates a change in the trend in favor of the bullish pair of the New Zealand Dollar. In the event of a breakdown of the lower boundary of the indicator strip, it is expected to accelerate the fall of the pair into the area below the level of 0.6740.