NZD/USD Forecast January 23, 2017, Technical Analysis

The New Zealand dollar fell during the day on Friday, as we saw quite a bit of volatility. If we can break down below the bottom of the candle for the day on Thursday, I feel the market will drop down to the 0.70 level underneath. A break above the top of the candle should signal that we are going to reach towards the 0.7350 level above, but ultimately the one thing I think you can count on is volatility. Because of this, it’s difficult to hang onto a trade for any real length of time.