NZD/USD Forecast May 25, 2016, Technical Analysis

The NZD/USD pair initially fell during the course of the session on Tuesday, but found enough support at the 0.67 level to turn things around and form a hammer. The hammer is of course a very bullish sign, and as a result we can break above the top of that candle is very likely that we will rally. However, there is quite a bit of resistance above as well, so we continue to go back and forth overall and stay in a very tight range. With this, we are actually staying away from the New Zealand dollar.