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NZD/USD: Short Review & Forecast

Published on: 09/01/2017

The growth of the US dollar continues to affect other currencies. In most cases the strengthening of the dollar has led to a decline in the value of other currencies against it. The situation in the new year has not changed so far. The rates of the NZD/USD are still in the frames of the downward trend formed in November immediately after the elections in the United States.

NZDUSD, H4 chart
At the moment the falling of the New Zealand has stopped and its value is around $0.69-0.7. We expect that the rates in the near future will be in the frames of the downtrend. The value of the NZD may fall to the level of 0.66 USD because of the promised protectionist policy of the new US President which can have a negative impact on the export of goods from many countries. Although New Zealand is less dependent on this than China or Mexico, exports to the United States still account for a significant part of its economy.

It should be noted that while everything is built on expectations about Donald Trump's presidency, reality may differ significantly from his promises and plans. This means that as of January 20 we can expect some changes in this regard. Right now we can say that the best course is to open short deals upon middle-term trading, a stance that the MACD oscillator confirms.

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