NZD/USD Forecast January 11, 2017, Technical Analysis

The New Zealand dollar had a volatile session on Tuesday, bouncing around the 0.70 level. I still believe in the downside when it comes to this market, but right now it looks as if there is far too much volatility to make a clear-cut choice as to when you should be placing money into the pair. I do recognize that a break down below the bottom of the range for the session on both Monday and Tuesday could be a nice selling opportunity, but beyond that I’m willing to sell on the sidelines.