NZD/USD Forecast October 26, 2016, Technical Analysis

The NZD/USD pair rallied during the course of the day on Tuesday, as we continue to see bullish pressure underneath. Ultimately though, I think that there is a little bit of noise at the 0.72 level so it’s not until we break back above that level that I would consider going long. I don’t necessarily want to short here though, as it seems like we are putting up a bit of a fight. Quite frankly, I would just as soon stand on the sidelines than anything else when it comes to the Kiwi dollar at this point.