NZD/USD Forecast October 17, 2016, Technical Analysis

The NZD/USD pair rallied during the course of the session on Friday, but found the 0.7250 level to be resistive enough to turn things back around and form a bit of a shooting star. Because of this, I think that the market will pullback, at least in the short-term. With this, I feel that it’s only a matter time before the sellers get involved, but if we can break above the 0.72 level, the market could very well continue to go much higher at that point in time. A break down below the 0.70 level would be massively resistive.

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