NZD/USD Forecast July 21, 2016, Technical Analysis

The NZD/USD pair went back and forth during the course of the day on Wednesday, but the 0.70 level continues to offer bit of support. If we can break above the top of the candle for the Wednesday session, I believe at that point in time the New Zealand dollar will continue to go higher, but there is a lot of noise and bearish pressure above so it’s not going to be an easy move. With this, I am cautiously optimistic. If we broke down below the 0.6950 level though, at that point in time I would have to start thinking about selling.