NZD/USD Forecast May 11, 2016, Technical Analysis

The NZD/USD pair initially fell during the course of the session on Tuesday, but turned right back around to form a hammer. This of course is a very bullish sign, so we can break back above the top of the hammer, we could very well continue to see bullish pressure build up. If we break down below the bottom of the hammer, we could continue to go even lower, perhaps maybe the 0.66 level. Ultimately, this is a market that has broken down recently, so it’s likely that volatility will continue to be a mainstay of this market.

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