NZD/USD Forecast February 5, 2016, Technical Analysis

The NZD/USD pair broke higher during the course of the session on Thursday, but at this point in time we are getting fairly stretched to the upside and therefore we would like to see some type of pullback that show signs of support in order to start buying. This is because the US dollar has been oversold in general, and this market of course is no different. The 0.69 level above will continue to be resistance, so we don’t think that we can break above there, but it does seem to make sense of this point that we may try to get there.

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