NZD/USD Forecast December 7, 2016, Technical Analysis

The New Zealand dollar fell during the day on Tuesday as the previous uptrend line continues to offer resistance. Because of this, we are going to continue to go back and forth with a bit of a negative attitude. I think that we will reach towards the 0.70 level below, which has been massively supportive. If we break down below there, the market is likely to go even lower. A break above the previous uptrend line should be a strong sign, but until we get a daily close above that line, I believe that negative trades are about all he can take.