NZD/USD Forecast May 10, 2016, Technical Analysis

The NZD/USD pair broke down during the course of the day on Monday, as we broke below the 0.68 handle. That being the case, the market looks as if it is more than likely going to continue to go lower, and short-term rally should be selling opportunities. Because of this, we have no interest in buying the New Zealand dollar at the moment, because of the fact that there is quite a bit of volatility in the commodity markets. Also, US dollar seems to be strengthening in general, so this market should continue to grind its way lower.