NZD/USD Forecast February 15, 2017, Technical Analysis

The New Zealand dollar initially tried to rally during the day on Tuesday but fell and reach towards the 0.7150 handle. We found a little bit of support just below there though, so the market looks like it is going to continue to see choppiness overall. I think that eventually the buyers return, but Janet Yellen suggested that perhaps interest rate hikes are coming down the road, and that of course strengthen the US dollar. However, if that’s the case, that should benefit commodities eventually, as it suggests there could be more demand amount of course lifts the Kiwi.