NZD/USD Forecast May 20, 2016, Technical Analysis

The NZD/USD pair fell initially during the day on Thursday but found enough support to turn things around and form a bit of a hammer based upon the 0.67 region. With this, looks like we could get a bit of a bounce but at this point in time we are not expecting anything major. The 0.6850 level above should continue to be rather resistive, so a short-term bounce could happen, but nothing more than that. Scalpers might be interested in this market, but for selling traders or even long-term traders, there’s nothing here.

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