NZD/USD Forecast November 14, 2016, Technical Analysis

The NZD/USD pair fell significantly on Friday, testing the uptrend line of the uptrend channel. The breakdown from here should have the market trying to reach towards the 0.70 level below, which is an important number that we should find support at. We could bounce off the uptrend line, but I need to see a daily close to try to place a trade because of the importance of this general vicinity. With this being the case, I don’t plan on placing a trade until we get a daily close that tells me one way or the other as to where we’re going. I am on the sidelines now.