NZD/USD Forecast November 16, 2016, Technical Analysis

The New Zealand dollar had a negative day, but did see a significant amount of support at the previous uptrend line. Because of this, I believe it’s only a matter of time before we have to make some type of significant candle. If we can break down below here, the market should then reach towards the 0.70 level, and then would more than likely see support. If we break above the top of the candle for the session on Tuesday, I feel that the market will probably continue to grind higher. Ultimately, expect a lot of volatility.