The pair NZD / USD continues to weaken after the statement of the Central Bank of New Zealand concerning the publication of new economic forecasts on 21 July. At the same time the RBNZ said the present crisis in the housing sector, causing pessimism on the part of the markets. As a result, the New Zealand currency lost ground amid speculation about the reduction of interest rates in the short term.
Technically tool NZD / USD came out of the rising channel. The New Zealand dollar fell, and the pair broke the 0.7150 level. Resistance is located at 0.7150, support - at 0.7050.
MACD is in the negative zone. Histogram indicator declined, indicating a strengthening force sellers. RSI approached the oversold zone, which is a signal to sell.
On the 4-hour chart, the pair has broken the EMA-50 and 100-EMA, then approached the 200-EMA, which is the last chance to restore growth.
Forecast NZD / USD today
That the bearish sentiment in the market is expected to persist. The pair NZD / USD ozhzhet continue to decline with the Target in the 0.7050-0.7000.
Based on materials from Fort Financial Services