NZD/USD Forecast February 27, 2017, Technical Analysis

The New Zealand dollar fell slightly on Friday, as we continue to consolidate in general. I believe that the market will more than likely find support somewhere near the 0.7150 level, and then turned around to test the 0.7250 level again. Because of this, expect what a bit of choppiness and with this being the case it’s likely that you’re going to have to be able to deal with volatility in this market. Ultimately, this is a market that should reached higher levels based upon the support that we have seen at the 50% Fibonacci retracement level.