NZD/USD Forecast July 29, 2016, Technical Analysis

The NZD/USD pair initially tried to rally during the course of the day, but then turned around back around on Thursday to form a slightly negative candle. However, the massive hammer on the Wednesday session and of course the massive amount of support at the 0.70 level below suggests that we are going to continue to go higher, reaching towards the 0.73 level. This is a bullish market, even though it will have quite a bit of volatility in it, but I have no interest whatsoever in buying at this point in time.