NZD/USD Forecast February 1, 2016, Technical Analysis

The NZD/USD pair initially tried to break higher during the day on Friday, but turned back around in order to form a shooting star. The shooting star of course is a very negative sign, so it appears that we are going to head back to the 0.64 level. Ultimately though, this is a very volatile pair so short-term trading is about the only thing you can get out of the right now. We have no interest in putting any real money to work here, the New Zealand dollar is quite a bit choppy or than we like.