NZD/USD Forecast January 28, 2016, Technical Analysis

The NZD/USD pair rose during the course of the session on Wednesday, but we still have quite a bit of resistance just above. With this, and the fact that we will have had an interest-rate decision coming out of Wellington, we believe that the resistance will probably make sure that there is a lot of volatility in the area. On top of that, we have quite a bit of support below at the 0.64 level, and that of course will find quite a bit of support. Ultimately, this is a market that is going to be very difficult to trade, so with that being the case we are going to wait to see whether or not we get some type of impulsive candle in order to start buying or selling.