NZD/USD Forecast December 13, 2016, Technical Analysis

The USD/USD pair rallied during the session on Monday, testing the bottom of the previous uptrend line yet again. I believe that if we can break above the 0.7250 level signifies that we are going to go higher, perhaps reaching towards the 0.74 level above. A break down from here should send the market back towards the 0.71 level, and then possibly the 0.70 level where I would expect a significant amount of support. At this point, the market looks as if it is consolidating overall, and as a result it’s not offering much in the way of solid trading opportunities.

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