NZD/USD Forecast January 16, 2017, Technical Analysis

The NZD/USD pair went back and forth showing signs of volatility on Friday. We are sitting just above the 200-day exponential moving average, but just below a significant downtrend line. Because of this, I think that if the market can break out to the upside, it should be a relatively powerful move. A break down below the bottom of the candle should send this market looking for the 0.70 level. Ultimately, this will be a volatile market, but given enough time we should get the signal necessary to put money into the market.