NZD/USD Forecast September 26, 2016, Technical Analysis

The NZD/USD pair fell rather significantly during the course of the session on Friday, as we crashed through the 0.7250 level. I believe that there is a significant amount of support at the 0.72 level below, so having said that it’s not until we break down below there that I think we continue to sell off. Any rally at this point in time could very well find sellers above, but then again could be a simple continuation of the overall consolidation. However, before I would worry about that I need to see what the market does once we get down to the 0.72 level.

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