NZD/USD Forecast March 1, 2017, Technical Analysis

The New Zealand dollar market fell a little bit during the day on Tuesday but ended up turning around and forming a massively bullish candle. A break above the 0.7250 level sends this market looking for the 0.7350 handle after that. A break above there should send the market much higher, perhaps reaching towards the 0.75 level. I have no interest in shorting this market, it appears that we have plenty of support underneath and we should continue to go much higher. The 50% level underneath is massively supportive, and therefore I believe that if you can hang on through the volatility, you should make gains.

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