NZD/USD Forecast May 26, 2016, Technical Analysis

The NZD/USD pair went back and forth during the day on Wednesday, as we continue to bounce around the 0.6750 level. There is a significant amount of resistance all the way up to the 0.6850 level, so at this point in time we don’t really have any interest in buying, but quite frankly we don’t have the interest in selling either as there seems to be a significant amount of support just below. Keep in mind that the New Zealand dollar is highly sensitive to risk appetite, so until the commodity markets pick up momentum, this pair could very well be stagnant.

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