NZD/USD Forecast December 5, 2016, Technical Analysis

The NZD/USD pair rallied on Friday, breaking the top of the hammer from the Thursday session. However, we smashed into the bottom of the uptrend channel, so it should be a resistive area. An exhaustive candle in this area should be a selling opportunity but if we can break above the 0.72 level, the market should continue to go higher, perhaps reaching towards the 0.7350 level above. One thing I think you can count on is going to be quite a bit of volatility, so you will have to keep in mind that small positions might have to be used.

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