NZD/USD Forecast October 28, 2016, Technical Analysis

The NZD/USD pair initially tried to rally during the course of the day on Thursday, but turned around to fall rather significantly. Ultimately, this is a market that looks as if it is going to continue to try to test the uptrend line below, so if you are short-term trader you may find short-term selling opportunities. At this point though, I’m not willing to risk any real money on the New Zealand dollar as I believe that we will have to address the uptrend line before a significant move can happen in this market.

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