NZD/USD Forecast February 28, 2017, Technical Analysis

The NZD/USD pair rallied a bit during the day on Monday, as we continue to see bullish pressure. Overall though, we have been consolidating so we need to break above the 0.7250 level in order to continue going higher. I believe that pullbacks continue to offer buying opportunities and that there is a massive amount of support near the 0.7150 handle. Ultimately, we should then reach towards the 0.7350 level above, and perhaps even break above there. Regardless what happens, you can expect a lot of volatility as the market will chop around.