NZD/USD Forecast October 6, 2016, Technical Analysis

The NZD/USD pair went back and forth during the course of the session on Wednesday, so having said that it looks as if we could very well try to break back above the 0.72 level. On the other hand, if we break down below the bottom of the candle for the day on Wednesday, we could send the markets down the 0.70 level. With this being the case, I think that we need to see which way this market breaks, and then simply follow it. The New Zealand dollar of course is highly correlated to commodities, so with this you will have to pay attention to the overall attitude as well.

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