NZD/USD Forecast December 30, 2016, Technical Analysis

The New Zealand dollar rallied on Thursday, reaching towards the 0.70 level above. This is an area that should be resistive, and thus I feel that the sellers will return given enough time, and because of this I am waiting for signs of exhaustive momentum to take advantage of value in the US dollar. The market should reach down to the 0.68 handle after that, which has historical significance as far as support is concerned. I have no interest in buying the New Zealand dollar, the US dollar is the strongest currency in the world now.