NZD/USD Forecast September 12, 2016, Technical Analysis

The New Zealand dollar fell during the course of the day on Friday, testing the 0.73 level. However, there is quite a bit of support in this area so I think it’s only a matter of time before the buyers get involved. There is support all the way down to at least the 0.72 level, so I’m not interested in selling at this point in time. A supportive candle could have me buying though, but I recognize that more than likely we are entering a new phase of consolidation when it comes to the Kiwi dollar.

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