NZD/USD Forecast February 10, 2017, Technical Analysis

The New Zealand dollar fell hard during the session on Thursday, as the 0.72 level is broken. However, there is enough support in noise underneath to cause a bounce in my estimation, so I’m waiting to see a supportive candle that I can start buying. While we could continue to go lower, the truth is that the most recent impulsive move has been a bit too strong for me to consider going against it. Ultimately, I think this will continue to be very choppy but it still looks as if we are very much in an uptrend.