NZD/USD Forecast June 10, 2016, Technical Analysis

The New Zealand dollar had a fairly quiet session as we went back and forth in a relatively tight range. However, we have broken above the vital 0.7050 level as resistance has given way. This is a very bullish sign and as a result I believe that this market will continue to go higher. Pullbacks will be supported at the aforementioned 0.7050 level, and on a break higher there should also be plenty of support as well. Ultimately, this is a market that we have no interest in selling at this point in time.