NZD/USD Forecast March 29, 2017, Technical Analysis

The NZD/USD pair fell during the session on Tuesday, but found enough support underneath to turn things around to form a hammer. The hammer of course is a very bullish sign and the 0.71 level above is the short-term target for back and forth type of traders. The 0.70 level underneath continues to offer support, so I think that the market continues to be very volatile, and short-term charts should be used to place trades back and forth. If we break above the 0.71 handle, then the market will reach towards the 0.72 handle. Alternately, if we break down below the 0.70 level, the market will then go looking for the 0.69 handle.