NZD/USD Forecast November 17, 2016, Technical Analysis

The NZD/USD pair fell initially on Wednesday, but bounced after showing signs of support. This of course ended up forming a nice looking hammer, which is a bullish sign. It looks as if the 0.70 level is going to be massive support so he bounds isn’t necessarily a huge surprise. If we can breakdown below the 0.70 level however, they could be very negative sign. Even if we do get a bit of a bounce, it’s likely to be short-term at best. Any rally at this point in time should show signs of exhaustion that you can start selling after the fact. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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