NZD/USD Forecast January 30, 2017, Technical Analysis

The New Zealand dollar initially rally during the day on Friday, but turned around to form a shooting star like candle. I think that there is a certain amount of support at the 0.72 level, so a breakdown below there would be a very bearish sign. Alternately, if we break above the top of the shooting star candle, then we should try to reach the 0.7350 level. I think this is going to be a choppy market in general, so keep that in mind. Either way, we should make an impulsive move sooner rather than later.