NZD/USD Forecast June 16, 2016, Technical Analysis

The NZD/USD pair initially fell during the day on Wednesday, but turn right back around at the first sign of support and broke back above the 0.70 level. At this point in time, if we can break above the 0.71 handle, I feel that the market can continue to go much higher. I also believe that there is a lot of noise below so it is going to be difficult to sell this market and therefore I’m looking to see if we can break out before getting involved. Keep in mind the commodity markets do influence the Kiwi dollar.