NZD/USD Forecast January 25, 2016, Technical Analysis

The NZD/USD pair fell significantly during the day on Friday, as the 0.6550 level offered enough resistance to turn the market back around. With this being the case, looks like we could be trying to reach down towards the 0.64 handle, which of course has been supportive. Ultimately though, we don’t really have any interest in trading this market as the Australian dollar has given a little bit more of a clear-cut example of a nice selling opportunity at this point. As the 2 currencies tend to move together, that does make us favor the downside in this market, but again we believe that the Aussies going to be easier to trade.