NZD/USD Forecast February 6, 2017, Technical Analysis

The NZD/USD pair initially fell on Friday, but found enough support again at the 0.7250 level, turning around to form a very bullish candle. The 0.7350 level above is resistive as well. If we can break above there, the market should then continue to go much higher. If we can break down below the bottom of the candle however, the market will then drop to the 0.71 level. In the way, I think that were going to get a lot of volatility and thus you’re going to have to be able to deal with a lot of choppiness.

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