NZD/USD Forecast January 3, 2016, Technical Analysis

The NZD/USD pair had a volatile day on Friday as traders squared up positions for the end of the year. We ended up forming a slightly supportive candle but I still think that the 0.70 level above is massively resistive, as it was previously supportive. An exhaustive candle is reason enough for sellers to get involved again, reaching towards the 0.68 as a result. I have notched in buying, the US dollar continues to be the strongest currency in the world, and I don’t see the New Zealand dollar being the exception to the rule.

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