NZD/USD Forecast November 11, 2016, Technical Analysis

The NZD/USD pair fell during the day on Thursday, as we continue to see US dollar strength in general. There is a significant amount of support just below though, so I do expect to see some type of supportive candle in the near term that I can serve buying. I have no interest in shorting at this point, because quite frankly if you are going to start selling the New Zealand dollar, you should’ve done it 2 days ago. With that in mind, I believe that it’s only a matter of time before all get a short-term buying opportunity based upon the previous support just below, not only in clustering, but also an uptrend line.

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