NZD/USD Forecast April 11, 2017, Technical Analysis

The New Zealand dollar rallied during the day on Monday as we retraced quite a bit of the losses from Friday. However, I believe that the 0.70 level above should be resistive. The market finds quite a bit of support below near the 0.69 handle, so I am anticipating short-term choppiness that should continue to offer selling opportunities, but again, short-term only. If we were to break down below the 0.6850 level, the market should continue to go much lower. As far as buying is concerned, I don’t know that I’m interested in doing so.

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