NZD/USD Forecast March 20, 2017, Technical Analysis

The New Zealand dollar rallied on Friday, breaking above the 0.70 level again. In this area of consolidation, there could be some decisions made. I still believe that the New Zealand dollar is going to trail the Australian dollar, and therefore I don’t prefer trading this market. They do tend to mimic each other, but certainly the Australian dollar looks like it’s much healthier. Because of this, I’m stepping to the side when it comes to the Kiwi dollar. Given enough time, I do think that we will have to make a decision but right now I’m not willing to put money to work.