NZD/USD Forecast May 6, 2016, Technical Analysis

The NZD/USD pair tried to rally initially during the day on Thursday but turn right back around to form a slightly negative candle. However, there is still a significant amount of support below, especially near the 0.68 handle. Because of this, we are not really ready to start selling yet, as we think that it could be an opportunity for buyers to get involved just below, and that of course could be a nice opportunity to reach out and take advantage of value. With the jobs number coming out today though, the one thing you can count on is volatility.