NZD/USD Forecast November 4, 2016, Technical Analysis

The NZD/USD pair rallied during the course of the session on Thursday, as we continue to see bullish pressure and the New Zealand dollar. However, there is a significant amount of resistance just above, and of course we have the jobs number coming out during the course of the day on Friday, so expect a lot of volatility. Quite frankly, I would prefer to see a pullback that show signs of support that I can start buying at lower levels. Until then, I will more than likely to sit on the sidelines as this market is a bit overextended at the moment.

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