NZD/USD Forecast June 28, 2016, Technical Analysis

The NZD/USD pair broke down during the day on Monday, slicing through the 0.70 level again. We are reaching pretty significant support just below that handle, so the question is now whether or not we can break down from here. I do think we probably will, but it might take a couple of attempts. Quite frankly, I feel much better selling short-term rallies when they appear and show short-term exhaustive candles. At this point in time I don’t really have any interest in buying this market, as the markets certainly are starting to act a lot more “risk off” now.

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