NZD/USD Forecast October 3, 2016, Technical Analysis

The New Zealand dollar rallied a bit during the day on Friday, but quite frankly we have just formed a massive shooting star on the monthly chart, so I believe that this market will continue to be one that you can probably sell, on signs of exhaustion and of course a break down below the 0.72 level. After forming that monthly shooting star, I have more of a negative bias when it comes to this market so you will have to pay attention to risk appetite, but as that falls, this pair will do so as well.

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