NZD/USD Forecast December 23, 2016, Technical Analysis

The NZD/USD pair went back and forth on Thursday, as we tested the 0.69 level for support. Any rally at this point should continue to see selling pressure above, especially near the 0.70 level. If we breakdown below the hammer from a couple of sessions ago, that should send the market down to the 0.68 handle below which is massively supportive. I have no interest in buying this prayer, I think regardless we will find sellers but it comes down to whether we will rally first or just simply break down. The US dollar continues to be strong, and I don’t see anything changing that.