NZD/USD Forecast January 26, 2017, Technical Analysis

The NZD/USD pair initially fell on Wednesday, and then bounced enough to show signs of support. The 0.7350 level above the should be massively resistive, so I think that the short-term buyers may have their way, but given enough time it’s difficult to imagine that we won’t have some type of pushback near that level. The 0.72 level underneath should be supportive, so I think that we are going to see a lot of choppiness, but overall I believe that the bullish pressure will continue in the short term if nothing else. Longer-term, I need to see a little bit more clarity.

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