NZD/USD Forecast December 20, 2016, Technical Analysis

The NZD/USD pair initially trying to break above the 0.70 level during the session on Monday, but turned around to form a relatively bearish looking candle. A break below the bottom of the range for the Friday session signals that the New Zealand dollar is ready to continue going lower, and quite frankly I have no interest in buying this pair anyway. With this, I expect to see the 0.68 level tested below, and perhaps the 0.65 level after that. The US dollar remains the strongest currency that we trade at the moment, and the New Zealand dollar certainly won’t be the exception to its strength.

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