NZD/USD Forecast June 22, 2016, Technical Analysis

The NZD/USD pair initially broke higher during the course of the session on Tuesday, but gave back quite a bit of the rallies during the day in order to form a less than spectacular breakout. With this, I’m going to wait until we break above the top of the range for the day in order to start buying, or some type of support action below, as I believe that there is quite a bit of support starting at the 0.7050 level. I have no interest in selling, as I think that there isn’t enough room to fall before the buyers get involved.