NZD/USD Forecast December 19, 2016, Technical Analysis

The New Zealand dollar broke down below the 0.70 level during the day on Friday, as it looks like the US dollar will continue to reign. With this being the case, I look at any rally as a potential selling opportunity, especially on signs of exhaustion. A break down below the bottom of the range for Friday would also be a nice selling opportunity as far as I can see. At that point, I would expect the market to eventually reach down to the 0.65 handle. I have no interest whatsoever in buying.

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