NZD/USD Forecast March 6, 2017, Technical Analysis

The NZD/USD pair fell significantly during the day on Friday, testing the 0.70 level underneath. The market looks as if it is testing a rather significant level, and thus I believe that the market will find buyers as we are a bit oversold. If we can break down below the 0.70 level, the market should then drop down to the 0.6850 handle. This being the case, I believe that a bounce could be coming, but I am a little bit hesitant to take advantage of it as there are easier currency pairs to deal with right now.