NZD/USD Forecast December 14, 2016, Technical Analysis

The New Zealand dollar try to rally during the day on Tuesday, but gave back quite a bit of those gains in order to form a bit of a shooting star at where the uptrend line has been noted. Because of this, if we can break down below the bottom of the candle for the day on Tuesday, I feel that a selling opportunity may present itself. On the other hand, if we can break above the top of the shooting star, that’s a reason to believe that the market is going to continue to go higher, perhaps reaching towards the 0.74 level over the longer term.