NZD/USD Forecast October 11, 2016, Technical Analysis

The NZD/USD pair fell during the course of the session on Monday, as we continue to see quite a bit of bearish pressure. The 0.72 level above continues to be a bit of a “ceiling”, and as a result it’s very likely that we will continue to drift lower and perhaps reach towards the 0.70 level below. Rallies at this point in time should continue to offer selling opportunities on exhaustive moves, but at this point in time I think that buying is going to be all but impossible in this particular market.