NZD/USD Forecast February 14, 2017, Technical Analysis

The New Zealand dollar fell during the day on Monday, as we continue to see volatility in this market. However, I believe it’s only a matter of time before we see buyers get involved, so waiting to see a supportive candle is probably the best way to go. The 0.71 level underneath should be supportive, but if we turn around a break above the top of the range for Monday, that’s a reason to start going long as well. I have no interest in shorting this market, as we have seen such an impulsive moved to the upside recently.