NZD/USD Forecast November 7, 2016, Technical Analysis

The NZD/USD pair initially fell on Friday but turned around to show a bit of a hammer. It looks as if the market is trying to go higher, but I also recognize that there is a lot of noise just above. So, having said that I think that a pullback is somewhat necessary, and it should invite more value hunting buying quite a bit of the marketplace. I think that we are just a bit overextended at this point, so with that being the case I am waiting for value to present itself