NZD/USD Forecast March 17, 2017, Technical Analysis

The New Zealand dollar fell during the session on Thursday, after significant rallies on Wednesday. This is because of the overall inherent weakness in this market, and I believe that we are going to reach towards the 0.6980 next. Rallies at this point should be selling opportunities, as the New Zealand dollar has been one of the poorer performing currencies in the G 10 currently. I believe that rallies are to be sold going forward, and I also believe that we break down below the 0.69 level, we could reach toward 0.68 rather quickly.