NZD/USD Forecast February 20, 2017, Technical Analysis

The New Zealand dollar initially tried to rally during the day on Friday, but turned around and fell. I believe that the market has plenty of support at the 0.7150 level, so if we can find a bit of a bounce in that area, it might be time to serve buying. Alternately, if we can break above the top of the shooting star from the Thursday session, the market then should reach towards the 0.7350 level above. Expect volatility, and I do believe that longer-term the buyers will win the argument but we may have a little bit of negativity in the short term.

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