NZD/USD Forecast January 4, 2017, Technical Analysis

The NZD/USD pair had a back and forth type of session on Tuesday as the volume is starting to pick up finally. However, with this type of movement one can gather that the volume is still a little bit of an issue. Because of this, I feel that it is only a matter of time before move turn around. Longer-term, I look at rallies as a potential selling opportunity, as the 0.70 level above should now be a bit of a ceiling. I have no interest in buying, and still believe that the New Zealand dollar will drop down to the 0.68 level.