NZD/USD Forecast January 6, 2017, Technical Analysis

The New Zealand dollar rallied against the US dollar on Thursday, breaking above the 0.70 handle. However, with the jobs number coming out today, we could get quite a bit of volatility in a turnaround. Because of this, I am not inclined to buy quite yet, so given enough time I’m waiting to see whether we get an exhaustive candle after the announcement. Because of this, I am on the sidelines but is we continue further I will have to reevaluate the New Zealand dollar in general. Trading today would be risky.