NZD/USD Forecast June 17, 2016, Technical Analysis

The NZD/USD pair initially fell during the course of the day on Thursday, but found enough support below the 0.70 level below to turn things back around and form a massive hammer. Because of this, I believe that the market is going to continue going higher, but we need a break above the top of the range for the Thursday session in order to get the classic buy signal. At that point in time, I would expect this market to eventually break out to the upside and make a fresh, new high. I have no interest in selling this market at the moment.

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