NZD/USD Forecast December 21, 2016, Technical Analysis

The New Zealand dollar fell on Tuesday, but found enough support to turn things back around and form a hammer. A break above the top of the hammer would be a short-term bullish move just waiting to happen, but the 0.70 level above should continue to be massively resistive. An exhaustive candle at that region would be a nice selling opportunity, and a break down below the bottom of the hammer would be as well. Longer-term, I believe that the New Zealand dollar continues to struggle against the greenback which of course is the strongest currency that we trade at the moment.

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