NZD/USD Forecast November 1, 2016, Technical Analysis

The NZD/USD pair fell slightly during the session on Monday, as we continue to grind back and forth. There is a massive uptrend line just below, which of course is very important so therefore it’s very likely that the buyers will return again and again. If we broke above the 0.72 level however, I could start going long but quite frankly there are a lot easier trades now it takes a therefore I will probably stay on the sidelines when it comes to the New Zealand dollar now. I just don’t see any major move coming quite yet.