NZD/USD Forecast November 28, 2016, Technical Analysis

The New Zealand dollar rally during the day on Friday, breaking the top of the hammer from the Thursday session. This of course is a very bullish sign, but I think there’s quite a bit of resistance above that will continue to weigh upon the Kiwi dollar. Sooner or later, an exhaustive candle should appear that I can start shorting and that’s exactly what I’m going to do as I think it’s going to take a bit of momentum to break down below the 0.70 handle. I have no interest in buying the New Zealand dollar now.

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