NZD/USD Forecast May 16, 2016, Technical Analysis

The NZD/USD pair broke down during the course of the session on Friday, testing the 0.6750 level. There is a lot of support just below, and as a result we very well could bounce from here but don’t have a signal at this point in time. A break above the top of the shooting star from the Thursday session could have us buying, just as a supportive candle in this area could be. Ultimately, this is a very volatile market, and as a result it’s very unlikely that we will be risking money in the New Zealand dollar.

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