NZD/USD Forecast June 13, 2016, Technical Analysis

The NZD/USD pair fell during the day on Friday, testing the 0.7050 level for support. This is an area that had been previously resistive, so having said that it’s likely that we will have a fight on our hands over the next couple of days. A supportive candle in this area would be a nice buying opportunity, but it must be said that we are closing towards the bottom of the range which of course suggests that we could get a bit of a follow-through during the day today. Ultimately though, I still feel better about buying on supportive candles.