NZD/USD Forecast January 13, 2017, Technical Analysis

The NZD/USD pair broke higher during the day on Thursday, and is now testing significant resistance. The red moving average on the chart is the 200-day exponential moving average, and breaking above that typically will attract longer-term buyers. However, there is also a downtrend line that we stopped right at, so if we can break above the top of the range during the day on Thursday, the market then should go much higher, perhaps reaching towards the 0.73 level. Ultimately, an exhaustive candle in this area should be a sell signal when it appears.

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