NZD/USD Forecast May 23, 2016, Technical Analysis

The NZD/USD pair broke higher during the course of the session on Friday, breaking above the top of the hammer that had formed on Thursday. This is a bullish sign, and as a result the market very well could grind its way towards the 0.69 handle. However, a break down below the bottom of the hammer would be very negative, and send this market much lower in our opinion. Ultimately, one thing you can count on is going to be quite a bit of volatility as the New Zealand dollar tends to follow risk appetite in the commodity markets.