Currency pair New Zealand Dollar to US Dollar NZD/USD completes the trading week at 0.6854. The pair continues to trade below the moving average with a period of 55, indicating a bearish trend for the pair New Zealand Dollar to US Dollar. At the moment, the quotes of the pair are moving near the lower border of the bands of the Bollinger Bands indicator. It is worth waiting for the test of the average border of the Bollinger Bands indicator near the level of 0.6940, where we can expect an attempt to continue the fall of the pair quotations and further development of the downward trend for NZD/USD with the first target near the level of 0.6700.
NZD/USD forecast for the week May 15 — 19, 2017
The conservative NZD/USD sale area is located near the upper boundary of the Bollinger Bands indicator at 0.7050. The cancellation of the continuation of the fall of the pair NZD/USD will be a breakdown of the moving average with a period of 55, as well as the upper border of the Bollinger Bands indicator and the closing of the pair’s quotations above the 0.7130 area, which indicates a change in the downtrend in favor of the bullish trend on the New Zealand Dollar to US Dollar. In the event of a breakdown of the lower boundary of the Bollinger Bands, it is expected to accelerate the fall of the pair NZD/USD into the area below the level of 0.6700.
