NZD/USD Forecast November 18, 2016, Technical Analysis

The NZD/USD pair tried to rally but then turned around to show further softness. The market looks as if it is going to reach towards the 0.70 level given enough time, but there is quite a bit of noise between here and there. Because of this, I feel that the market is going to be difficult to deal with, so I may actually wait for a stronger signal one way or the other. Remember that the New Zealand dollar typically reacts and a positive correlation to risk appetite, so pay attention to stock markets and the commodity markets around the world.