NZD/USD Forecast February 29, 2016, Technical Analysis

The NZD/USD pair fell significantly during the course the day on Friday, dropping below the 0.67 handle. Ultimately, this is a market that is like it could drop a little bit from here, but quite frankly there is support just below so it’s difficult to get overly excited about shorting. Ultimately, this is a market that should drop a quite frankly we just don’t have enough room to place a trade at this point in time as the market has been very choppy and very range bound recently. We of course will wait to see whether or not we get an impulsive candle that we can trade off of.