NZD/USD Forecast March 13, 2017, Technical Analysis

NZD/USD initially rally during the day on Friday, showing signs of life again. We are at extreme lows, so it makes sense that we would bounce as we have sold off rather drastically. The 0.70 level above should be resistive though, so any type of exhaustive candle between here and there should be a selling opportunity., If we can break above the 0.70 level, that could be a buying opportunity. Either way, anticipate quite a bit of volatility in this market. The New Zealand dollar of course is very sensitive to commodities, so keep that in mind.