NZD/USD Forecast November 8, 2016, Technical Analysis

The NZD/USD pair initially fell during the day on Monday, but found enough support below to turn things around and form a bit of a hammer. The hammer looks very likely to suggest that we are ready to go higher, but there is a bit of noise just above. Ultimately, we should continue to go higher, reaching towards the 0.75 level above there. Pullbacks at this point time should be fairly well supported just below, and as a result I don’t really have any interest in selling this market at the moment.