NZD/USD Forecast October 4, 2016, Technical Analysis

The NZD/USD pair initially tried to rally on Monday, but as you can see by the chart we didn't do much. This was essentially a sideways market, and with that being the case it's very likely that we continue to simply bounce off of the 0.72 level, and with that being the case this is a market that will probably be difficult to trade for anything more than a scalp at this point in time. If we did break down below the 0.72 level however, at that point in time I think the sellers will probably get involved.

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