NZD/USD Forecast January 27, 2017, Technical Analysis

The New Zealand dollar fell during the day on Thursday as we may have gotten a bit too overextended. However, I think there is support is below near the 0.72 level, and thus a supportive candle is reason enough to go long. Alternately, if we breakdown below the 0.7150 level, I believe that the market drops from their and reach us towards the 0.70 level underneath. On the bounce, I’m looking for a moved to the 0.7350 level above. Pay attention to the commodities markets, as they are highly influential when it comes to the key we dollar.