NZD/USD Forecast March 31, 2017, Technical Analysis

The NZD/USD pair initially fell during the day on Thursday, but found enough support at the 0.70 level to turn things around and form a hammer. The hammer of course is a bullish sign and I believe we continue to go higher because of this. With this being the case, I am bullish short-term when it comes to the New Zealand dollar, and I believe it’s only a matter of time before we find ourselves reaching towards the top of the consolidation area which is near the 0.71 handle. Ultimately, I think that we will see a lot of volatility more than anything else.

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